Genome’s month in review: June 2021

The time has come again! That’s right, we are doing another “month in review” blog, where we talk about the latest updates in regards to Genome.

Without further ado, let’s see what new exciting things our team has in stock for you this June!

Exploring the standing orders

It has already become a good tradition of ours – we educate people and businesses on different aspects of financial services and explain their benefits. This month we were extensively talking about standing orders.

If you didn’t know, a standing order is a type of recurring payment that is sent automatically to another person’s/company’s account, which can be very convenient for subscription services and similar transactions. Find out how to set up standing orders and how standing orders differ from direct debits in Genome’s articles.

Introducing product updates

We have a couple of small but significant features added to make our clients’ experience even better.

First and foremost, we continue strengthening Genome’s security. For instance, we have recently added a two-step verification (aka 2FA) for the outgoing payments. This way we know that each transaction is approved by you.

And now, the 2FA is available when it comes to the “My team” feature. So, now when inviting other employees to manage your business wallet together, they will need to confirm their identity. Find out more about Genome’s access management service here.

Our team has also improved push notifications for Android users. When you get a push message and click on it, it will redirect you to the Genome dashboard section that this notification is about. Don’t waste time – get straight to business!

Even more information about money transfers

Where would any bank or PSP be without the money transferring feature? This service is important for personal and business clients, so no wonder we get more and more questions to answer about the topic.

See for yourself: check out our articles on how to send money abroad online and how to transfer funds to someone else’s bank account.

Unpacking the different types of e-wallets

Did you know that there are actually three types of virtual wallets: digital, mobile, and electronic ones. Not only that, but they have features that allow differentiating among them.

In this article, Genome’s team explained the benefits of e-wallets, and why some people prefer them to ordinary bank accounts.

Going back to basics: merchant accounts*

You can say that merchant accounts are talked about a lot, we say – not enough! Businesses often wonder about this or that aspect of a merchant account or try to figure out how to start one.

We at Genome know exactly why they have so many questions. Merchant account opening* is a serious step that requires efforts from companies and reliable services from PSPs.

Hence, we have prepared a long and detailed article about merchant accounts*, why you need them, and how you can apply for the account within Genome online.

*Please note that Genome’s merchant services have been temporarily unavailable since September 2024.

Go to our website for more information about our services. You can also check out Genome’s COO Daumantas Barauskas’ interview for TechHQ, where he talks more about our features.