Genome’s team has recently released virtual cards for individuals and businesses. Since then, we have been continuously improving their features. Today, we have a grand one! Genome virtual personal and corporate cards now have Google Pay – a fast, easy way to make payments! What it means for Genome’s users: When designing the virtual cards, we envisioned a one-stop tool for your financial needs, completely digital too. That’s why your virtual card only exists in your phone – no plastic and no way to steal it. And now, thanks to Google Pay, you can use your virtual card for payments

Predictably, the eCommerce sphere has been growing immensely during the past few years. At first glance, accepting money online, especially if we’re talking about different payment types, seems like a hectic thing to do. However, it all gets easy peasy lemon squeezy when you actually have everything set up. What’s more, many financial services providers, Genome included*, have taken care of things so that payment processing requires minimum involvement from sellers. Today’s article explains all the tools needed to accept funds online in Europe and other parts of the world.   Let’s start with a detailed overview of the payment lifecycle to understand everything better. To accept

A merchant account is essential for an eCommerce business. It allows a company or a freelancer to receive electronic payments. This Genome article describes what a merchant account is, what are other merchant services, how to compare providers, and which one to select. What is a merchant bank account? A merchant account is the only financial account that permits a business owner to accept electronic payments made in retail or online with credit cards and other electronic payment methods. A merchant account differs from a business account by the functions.  Basically, a business bank account offers all the same basic

Being a part of the payment system would allow a business owner to accept payments on the website. But the specific nature of the business itself does influence the process, especially such characteristics as high-risk. In this article, Genome will talk about types of bank accounts, high-risk businesses, high-risk payment processing, and how to open a high-risk merchant account. The difference between bank accounts There are three types of accounts in the banking world: personal, business, and merchant. Each serves various purposes and consists of different functionalities. Thus, a personal eWallet allows an owner to benefit from the financial services with electronic money. 

So, you now have a personal wallet within Genome; what’s next? By the way, if you have any issues applying, check out our tutorial on how to start a personal account. After the wallet opening, the first thing you need to know is how to top up your account and send money to other users. The top up Press the plus sign under the “top up” title on the dashboard. From there, you can top up your account using a bank card. Choose the new card option and fill in the card number, expiry date, CVV2/CVC2, cardholder name, and the

This time we start our blog by addressing important events. February 2022 has brought times of great unease and sadness upon Europe and beyond. Right now, the Ukrainian people keep on fighting for their freedom and independence, as they have to defend their country. Genome and Lithuania stand with Ukraine, and we ask our clients and partners to share the word and donate to the Armed Forces of Ukraine. The current situation concerns every European state! Now, let’s discuss our product updates. Money movements and transfers abroad: what to know No bunking is possible without funds, which sometimes need to

Online money transfers abroad have never been more simple. But there are still some basic things to know before instructing any international transactions. In today’s blog post, Genome explains all about overseas payments and how to make them.  International transfer types Let’s start with a definition. Online money transfers abroad are any transactions between two or more countries. They can be made in one currency or involve currency exchange. There are a few methods of moving funds overseas, and we will discuss all of them further. Wires were first introduced 150 years ago but remain the most widespread method of

When discussing financial services, some topics are always timely. IBANs and IBAN accounts are one of these. And also, people often wonder, “how can I check my IBAN number?”. Today, Genome’s team answers this and other related questions in this short but sweet article!   Transfer money online with Genome At this point, we have talked a lot about what IBANs are and how IBAN transfers work. But what we would like to explain is what services our EMI provides. First and foremost, it is a dedicated IBAN account opening for personal and business wallets. The onboarding doesn’t take much time

Please note that Genome’s merchant services have been temporarily unavailable since September 2024. We at Genome love coming up with features that make merchants’ jobs much more manageable. We provide extensive analytics, stable and easy payouts, virtual and physical corporate cards – to name a few. But what we also enjoy doing is highlighting other services and companies that merchants may find helpful. And this time, we are talking about Magento and its pros for e-commerce businesses. Want to know more? Read on!  Magento CMS: the basics Do you want to start selling goods and services online? Or maybe, already

Let’s begin with an explanation of what a banking system is. To put it shortly, it’s a unity of institutions that offer a bunch of financial services. When one needs to accept money from somebody else, make a transfer, or apply for a loan, the funds circulate within this system.  In Genome, we help our clients open business accounts and personal accounts. Just like any other financial institution, we’re involved in the movement of money when our customers send funds between their accounts in EUR, USD, etc. Therefore, today we will talk more about how all these processes happen to make a banking system