SEPA transfers are not be-all-and-all when it comes to payments in euros. After all, you have another option – TARGET2. But what are these transfers exactly, and how do they work? Genome’s here to help you figure this out! Learn how TARGET2 payment transactions work and what their benefits are in the article below! What is TARGET2? Trans-European Automated Real-Time Gross Settlement Express Transfer, or the short and sweet TARGET2, is a payment system used by some of the EU banks to make cross-border payments in euros. It was implemented as a part of Eurosystem’s monetary policy to enhance the

A batch payment feature is yet another financial tool bigger companies need to expand their business. It allows them to make multiple payments to multiple recipients in one transaction instead of different transactions. In this article, our team will explain how a batch payment processing system works and why such a feature can be a game-changer for businesses, customers, and transaction processing. What are batch payments? Batch, bathes, mass, bulk transfers, etc. You may already hear some of these terms. All of them usually refer to a batch payment service. As the name suggests, it is a process of grouping

Earnings before interest and taxes (EBIT) is a simple profitability metric that any company can use when evaluating its economic performance, such as operating expenses. This is yet another formula, along with gross profit, cash flow, etc, that you need to know. In this article, we will explore the topic and show how EBIT calculating works, its impact on a company’s profits / financial statements, and what businesses can learn from it in general. What is EBIT? To calculate EBIT for your business operations, we first need a clear definition. So, EBIT is a financial performance metric that measures a

The first letter in “iGaming” stands for the internet, which is notable. The iGaming companies were built on the web foundation and naturally rely on reliable and secure payment providers. Here at Genome, we work with such clients and know a lot about iGaming payments. Find out how they work in the article below.  What are iGaming payments? Deposits that people make when playing online games, cash withdrawals that customers get after winning at online casinos, or any other online gambling-related two-sided transactions are all considered iGaming payments. Any payment solution or alternative payment method would be considered an iGaming

We are used to discussing euro payments in our blog. But what about other transfer options? For instance, CHAPS payments are a specific transfer method used in the UK. Although you can only make a CHAPS payment in British pounds, it still can be very effective for a couple of purposes. Want to learn which ones? In this article, you will find out what CHAPS payments are and how to make a CHAPS payment. What is CHAPS? CHAPS stands for the Clearing House Automated Payment System, which is used for receiving and sending money within the United Kingdom in GBP

Having the right business bank account is a crucial step for any company to take. This will let you carry out your business banking processes and keep control of your funds. Read on to find out how to compare and identify the best online business bank account options. Key features of an online business bank account You need a useful business account that is going to let you send and receive transfers effortlessly, as well as keep track of your financial transactions with the help of the following key features. Accessibility and convenience 24/7 access means online business bank accounts

Choosing the right business bank account is vital for a start-up to manage its finances efficiently. At this important stage in the company’s development, the right business accounts can help start-ups in several ways, which we’ll look at here.  Genome is an innovative electronic money institution that offers a selection of comprehensive business account solutions. We have useful options for anyone looking for a solid startup business account to start accounts, get cards, and make bank transfers locally or worldwide. We’ll be looking at the points to consider when looking for the best startup account for a growing business based

Fintech (financial technology) and iGaming industries benefit from each other as their cooperation grows. For one, fintech solutions are revolutionizing how players engage with online platforms by providing a wide spectrum of services. For instance, instant payments and blockchain security.  On the other hand, the gamification of services has become more common within financial businesses.  In today’s article, we will explore the synergy between the gaming industry and fintech and find out which direction it goes. The integration of financial technology in iGaming The global iGaming market is projected to reach $133 billion by 2029, partly driven by financial innovations.

A BACS payment is an electronic transfer of money made between banks in the UK. As one of the most popular and efficient methods of moving cash, it’s become a hugely important aspect of the financial world, with over 140 billion transactions carried out since it was established. BACS stands for Bacs Payment Schemes Limited now but was originally known as the  Bankers’ Automated Clearing System. This process was introduced in the late 1960s to avoid the delays and paperwork involved in using cheques as a bank payment system.  Read on to find out how BACS transfers work, the BACS

Responsible gambling tips are important for anyone who wants to place some bets. The right advice can help bettors avoid problem gambling issues. Following this advice increases the enjoyment of betting sites and helps keep the player’s financial health in order, too. To support responsible gambling and help users avoid gambling problems, our team has prepared some important tips to follow. We’ll be looking at how gambling activities can be safer when carried out responsibly. Understanding responsible gambling What is responsible betting, and how can people avoid becoming problem gamblers? This is about the way you view gambling and use