Kicking off any business requires planning and patience, the same goes for Fintech companies. We at Genome have already passed this starting stage and are very aware of the challenges and difficulties this journey entails. And recently, our team was contacted by Tech.eu to share our experience on the matter, and we gladly did. You can check out the interview of Genome’s COO Daumantas Barauskas in the article “Genome’s lessons learned on best practice in the fintech game”.   Open an account in Genome online Get Started In turn, we will share a couple of points brought up in the

Business is not all about developing products and growing your brand. Some things don’t come to mind at first but are crucial. We’re talking rules and legislation the company must abide by to see their business live long and prosper, so to say.  Merchants from the EU know what it’s about, as they have to deal with both GDPR and PSD2. And speaking of the latter, the PSD2 compliance is on the front burner. You see, in less than two months, the EU companies are expected to fully implement the strong customer authentication, which is a part of this EU

When you think about companies in general, one of the things coming to mind is a team of professionals working together towards a common goal. Every person has their area of expertise as they contribute to perfecting the company’s product. But when it comes to banking, it’s not that convenient, unfortunately. Financial institutions usually offer companies business accounts with only one person having an access to it. It’s not always effective to rest the responsibility of managing the account upon one person. As financial matters require the assessment of more than one specialist. And don’t even get us started when

This autumn, we at Genome gave lots of tips on how to choose the right bank card for personal and business needs and described the types of bank cards there are. Thus, when our team was working on Genome’s very own cards, we considered our clients’ presumable requests. And we now have virtual and physical debit cards that meet personal and business demands available for a pre-order! So, let us first talk about the cards we have in store for you, and then cover the simple pre-order process. Genome’s physical multicurrency debit cards Using debit cards to pay for goods

It’s spooky season outside, and Halloween is on its way! But we at Genome have no worries – our month was productive, and we had a blast while working on new product updates and articles. Speaking of witch (see what we did there?), let’s begin October’s month in review with blog posts. Don’t be afraid of scammers – stand up to them We dedicated our very first blog post of October to a serious topic – “How to deal with imposter phone calls from the bank”. You see, recently there was an increase in phone calls from fraudsters, who held

Please note that Genome’s merchant services have been temporarily unavailable since September 2024. Mastercard has made crucial updates to its compliance programs globally, which also applies to some of Genome’s clients. Particularly, if you are a merchant from Europe, except for Germany, Switzerland, and Liechtenstein, this blog post is for you.  The updates involve the Excessive Fraud Merchant (EFM) and Excessive Chargeback Merchant (ECM) compliance programs. Let’s cover what the changes are about. Number of Transactions Fraud Chargeback(4837, 4863 reason codes) Amount Fraud ChargebackBasis Points 3DS Utilization(including Data Only Tax) 1,000 or more EUR/USD 50,000 or more 50 or more

With the emergence of digital banking, more people and businesses start wondering if it’s time to switch to e-banks from the traditional ones. Some people are citing stability as the pro argument for traditional banking, others prefer more tech-savvy Fintechs. Making this kind of decision is not always easy, but Genome’s team is here to help. In this article, let’s look into the advantages of both online and brick-and-mortar banks. And then, we’ll describe their differences so that you can choose which banking format works for you. The benefits and disadvantages of traditional banks These banks are unsurprisingly something all

Keeping afloat during these uncertain times is complicated for some businesses. We at Genome understand it and figured that we should come up with a solution that would support struggling businesses at least partially.  Hence, in April, we canceled all the service fees for companies who were already a part of Genome’s family or were thinking of joining. Now, a month later, the PaymentsSource news website got interested in the initiative and our COO Daumatas Barauskas answered all the questions. We recommend you check out the full article “Should payments companies continue waiving fees for post-coronavirus recovery?” while we share some of the

Unfortunately, bank scams are something that people have been dealing with for decades: the general premise stays the same, but fraudsters tend to switch scenarios to adjust to the topical events.  Thus, this year there have been reports of scammers using the panic caused by the pandemic to their advantage. For instance, American households were targeted with phone calls offering relief payments on the behalf of governmental institutions and fraudsters were wheedling out people’s bank account data in the process.  Lots of European countries also faced scammers, with over 400% increase of coronavirus-related fraud claims in the UK in March. In this blog post,

Our team at Genome started the autumn productively, releasing multiple new features throughout September. We are getting ready for new thrilling services being released, which we will describe in the blog post. Let’s see, what Genome’s got in store for you now and in the months to come! Minor updates that make a big difference Genome’s team continues making our product more functional each month, with seamless features that allow for a smoother experience. This time we have developed a notification center, where you can look up all the important notifications, and you will also be getting data on all