Genome’s month in review: January
genome update

Genome’s month in review: January

It’s the beginning of the year, and Genome’s team already has so much news and updates to share with you! We also hope that your 2021 started great and that we can make it even better with new features and services coming out this year. 

Thus, without further ado, let’s see what occurred on our platform in January.

Advising on how to start an online shop 

Due to lockdowns around the world, many retail shops had to expand their presence by diving into e-commerce. If you are thinking of following this path, but not sure how to approach it, then our article about working in the e-commerce sphere is for you. 

The article describes why now is a good time to look into the industry, as well as full of tips on how to start an e-commerce business and set up an online store. It also contains vital information about your payment security and how to protect your funds from chargebacks. Remember: better safe than sorry. 

Infographic: the reasons why American customers abandon carts when ordering online

For other advice and statistics, which can help you run a business or follow the latest market trends, visit Genome’s social media. There we frequently post infographics on the matter. 

Sharing our perspective on the Fintechs / traditional banks’ rivalry

Sometimes neobanks are described in media as entities that will ultimately replace the brick-and-mortar banks. We at Genome don’t think so, as both the traditional banks and Fintechs have their benefits.

Still, the popularity of Fintech companies has grown amidst the pandemic, and some brick-and-mortar banks struggled with implementing digital services. Find out what should be done about this rivalry from Genome’s perspective in our article “Neobanks Notwithstanding, Traditional Banks Are Not Going Away” for Hacker Noon.

Infographic: the transaction value of the global mobile payments market in 2019 and 2025

Cracking the charm of alternative payment methods 

Even though they sound like something that is not used as often, alternative payment methods (APMs) have become quite widespread in recent years due to their diversity and convenience. 
These and other factors that drive the demand for APMs is what we discuss in the article “Are Alternative Payment Methods the New Banking King?” for Finance magnates. You can also check out the most exciting insights from the article in this blog

By the way, if you are a merchant that wants to attract more clients, Genome offers 25 alternative payment methods for customers from different parts of the world. Treat the shoppers to Alipay, Skrill, Paysafecard, WeChat Pay, and other alternatives. 

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Helping out nationally in Lithuania!

As always, we end our month in review blog with the most thrilling news! This time, it is about us taking part in another great initiative. You see, Genome has won a tender and now facilitates payments for Lithuanian national parking. 

So, if you are in Vilnius, Kaunas, Klaipėda, or Trakai, you can pay for parking securely and swiftly with Genome, no matter if you are a local or a tourist. And before this, there are was no credit card payment method available. Learn how you can use Genome for parking payments here.

Our team is always joyful when it comes to helping out people and companies in Lithuania, the country we are based in. And it’s not the first time for us: last year we canceled service fees and lowered the cost of SEPA transfers for all the Lithuanian companies, to support local businesses.