Multiple companies around the world give 110% of their hard work, passion, and dedication for their business to succeed. But sometimes, saving money for businesses means you need to work smart, not hard. And Genome has some tips on how to do so. In this article, we will share some ways companies can save money by different means. So, if you need money-saving ideas for companies, this blog is for you! 5 business cost-saving ideas Start from within – optimize all about your company One of the best cost-cutting ideas is actually a simple one: analyze all parts of your

There are many aspects to financial services for companies that sell their goods or services. One such thing is a payment gateway. Unfortunately, only a few merchants dive into the nitty-gritty of how the right payment gateway can improve your conversions. Genome is here to fix that! In this article, our team will explain how to choose a payment gateway for your e-commerce store and other types of business. We will also uncover the difference between payment gateways and payment processors, as some people consider them the same thing.  What is a payment gateway? Before learning how to choose the

If you read Genome’s blog, you likely come across terms such as traditional banking and online banking and understand how they differ. But what about alternative banking – what is this term even about? Well, today, you have a chance to find out! Our team will explain what alternative financial institutions are and why you may want to use them.  Alternative banking: the definition Traditional brick-and-mortar banks have been around for decades upon decades. By now, people are aware of them and which services they provide. But the way we function and run our day-to-day errands, and the world, as

Finances are one of the most integral parts for businesses to operate properly. That’s why companies must be aware of all the financial risks they can potentially encounter. Let Genome explain what you need to look out for! Find out the primer financial risks for businesses and how to deal with them! What is a financial risk?  As the name suggests, it is a type of risk associated with certain financial operations, as well as internal and external changes that can result in money and capital loss.  Financial risks are something that experienced companies know all too well about. Some

When it comes to banking, the number of components it consists of is staggering. And while some of these components, such as bank accounts, credit cards, and wire transfers, are well known, others, like host-to-host payments, are obscure. Today, Genome will describe how host-to-host payments work, as well as explain what host-to-host payment pages are.  Host-to-host payments meaning in banking In the modern financial world, the host-to-host term (H2H for short) mainly refers to host-to-host payments and host-to-host payment pages. The former can often be found when corporate financial operations are mentioned, while the latter is a type of merchant

Due to the growing popularity of online shopping, the e-commerce industry has become a playfield of ferocious competition. That’s why such companies must ensure they have the most advanced tools and services the financial sphere can provide, including bank accounts. In this article, Genome’s team explains how to pick the best business bank account for e-commerce and how to use it.  The basis of e-commerce bank accounts So, if you are about to start a company that will delve into e-commerce, you probably wonder, “do I need a bank account for e-commerce business?”. Yes, you absolutely do. As with any

Banks are a huge part of people’s day-to-day lives, even if they just have one personal account and need a debit card for rare in-store purchases. But what about neobanks? Not all people know what these are and if they should switch from their brick-and-mortar banks to neobanks.  But Genome is here to explain. Today you will find out some of the main facts about neobanks, their advantages, and how neobanks compare to other financial institutions.  Neobank: meaning of the term Neobanks, as you might have guessed, represent a new type of financial institution. They started arising after the financial

To common users of banking services, money transfers are money transfers. As in, you don’t consider them complex: just a tool to send and receive funds.  But then, you face a plethora of terms like bank transfers, wire transfers, electronic payments, online transfers, and so on. And you start to wonder – “is there a difference between all of these?” and “what should I use?”. Well, let’s figure it out together! In this article, Genome will primarily focus on bank transfers and wire transfers and how they differ and compare wire payments to other transfer options as well.    Wire transfer:

Financial institutions come up with many solutions to allow customers to navigate the banking sphere more accessible and straightforwardly. Direct debit payments are one such tool. In this article, Genome will explain what direct debit transactions are and the benefit of direct debit. Direct debit: meaning of the term A direct debit transaction is a payment method used for collecting payments. Using direct debit, the account owner authorizes the third-party (different kinds of businesses and merchants) to pull funds from the said account to pay for the company’s products or services. The clients must notify their financial institution that they

There are so many kinds of money transfer options worldwide that not even financial experts can name all of them on the spot. But in many cases, various transfer types are grouped by common purposes or other metrics.  It is where cross-border payments come into place, as multiple money transfer types can be classified as such. In this article, Genome explains what cross-border wire transfers are and provides cross-border transaction examples, so you can select the option that suits you the most.  Cross-border payments: meaning of the term Cross-border transfers are a method of sending funds during which the sender