Security
What is Verification of Payee (VoP)? EU Mandate, fraud prevention, and Genome feature
Until the October 2025 SEPA regulation, euro transfers in Europe were routed by IBAN alone. Banks relied solely on the code, with no name checking. SEPA was designed for quick, uninterrupted, and cheap transactions. The problem arises when criminals start to replace a supplier’s IBAN on an invoice – the bank account number is what ultimately determines where the money goes. It could be done in many ways – for example, an email from a business partner announces they changed banks and provides “new bank details,” and of course waits to be paid. This is a so-called authorized push payment
Business services
3D Secure and SCA: how authentication affects approval rates
Strong customer authentication is not a zero-sum game where higher security must come at the expense of lower conversions – that is simply not how modern payment processing works. Take the EU as a prime example: card payment processing in Europe is heavily regulated and requires strict security protocols, making it an ideal environment to see how a strong customer authentication approval rate directly impacts merchant performance. The short version? While early regulatory rollouts triggered reports of sudden conversion drops, optimized payment setups now regularly achieve high authorization recovery after addressing initial challenges with 3D Secure and SCA approval rates.
Security
What is a cardholder data environment, and why does it matter?
A cardholder data environment is a set of processes that protect, store, and transmit cardholder data. It is a key aspect of digital finance, as the need to handle sensitive data carefully has grown over time. Data breaches and other security issues are potential problems for companies with access to cardholder data. What is cardholder data environment compliance, and how can you obtain it? Genome provides a service that ensures full PCI DSS compliance. Advanced security measures are added to protect users’ transactions and assist in maintaining customer trust. What is a cardholder data environment (CDE)? A cardholder data environment
Security
What is merchant fraud prevention, and how does it work?
Online payment fraud has become one of the biggest worries in the digital payments age. It makes merchant fraud prevention a top concern for merchants worldwide. As well as financial loss, credit and debit card fraud also damages a business’s reputation and compliance status. Let’s define merchant fraud prevention and how it works. Discover how to prevent fraud and the best practices for dealing with suspicious transactions. What is merchant fraud prevention? Merchant fraud prevention covers the process and systems used to protect ecommerce transactions. It’s used to detect, stop, and mitigate fraudulent payment activities. The growth in the use
Security
How to prevent chargeback fraud: a step-by-step guide
Chargeback fraud occurs when a customer disputes a transaction on their bank card. They claim not to have received the goods or services they paid for, so they start the chargeback process to try and reclaim the money. But is it true or a fraud attempt? It’s crucial that businesses know what a fraudulent chargeback involves. We can then look at how to reduce the risk of being affected by this fraud and how to dispute chargebacks safely. What is chargeback fraud, and why does it happen Legitimate chargebacks happen when a customer disputes a payment they’ve made. It can
Security
Prevent wire transfer fraud: Genome’s tips for businesses
Do you want to know how to keep your information and funds safe from the most common types of fraud? Check Genome’s security page, where we list our advice. What is wire transfer fraud? It is a type of fraud that involves the misuse of any electronic money transfer services by malicious actors for their personal gain. To commit wire transfer fraud, scammers first use a variety of deception methods to trick an individual or a company into sending funds to the account created specifically for their fraudulent scheme. Businesses can fall victim to wire transfer fraud as well. Thus, it
Security
Prevent card-not-present fraud: tips for individuals and businesses
Genome’s team is back with yet another article that dives into different types of fraudulent financial situations that people and businesses can face. And this time, card-not-present fraud is on the agenda. Want to know how to avoid scams associated with card-not-present transactions? We gathered some tips below. What is a card-not-present transaction? Before we get to the fraud part, let us first explain what card-not-present transactions are in general. Card-not-present transactions (also known as CNP transactions) are the type of payments a person makes with their debit or credit card. Such payments happen remotely, meaning that the card and
Security
Rules for the safe use of internet financial services and business accounts
Online safety is crucial when it comes to banking. Especially if we are talking about business accounts. In this Genome article, we will give advice on how to stay safe while using internet financial services, how to create a strong password, and where to open a secured account. What are financial services for business accounts? First of all, a business account is a financial bank account that provides business owners with needed internet financial services. A business account is quite similar to a personal one: a user can open a digital wallet, make payments, transfer money and receive transfers, withdraw cash, and do other operations.
Security
Using a VPN to protect your online account – how can it help?
It is crucial to have a safe way of connecting to your banking app. One of the methods you can apply is a Virtual Private Network. The Genome article explains what it is, how it works, and how your online banking account experience can benefit from it. What is a VPN? A VPN stands for the Virtual Private Network. The main thing about it is that it protects the internet connection of the user. It privates the browser and masks the Internet Protocol address or IP, and guarantees that the internet service provider does not collect and track the user’s