Article updated on 17.05.2024 “Chargeback” is a word any business doesn’t want to hear. Of course, chargeback is a necessary mechanism of the banking industry, but a large number of chargebacks can lead to devastating revenue losses and operational disruptions. In today’s article, Genome’s team will explain how chargebacks occur and what the implications are for companies. What is a chargeback? So, what is a chargeback? The term is specific to the finance industry, particularly in terms of credit and debit card purchases from stores and using e-commerce card payments.  A chargeback occurs when a cardholder (a customer who bought

Want to process payments and accept transactions from worldwide? You definitely need an international merchant account. We can all agree that it will be difficult and time-consuming to open separate accounts in every country you will operate in. Optimal decision will be to find a third-party service provider. And choosing the right provider is a decision that requires a thoughtful approach. The latest changes in the industry reminds us once again that there are many points to consider before opening a merchant account, so later on you will not have to worry about the safety and availability of your company’s

Having a merchant account is obligatorily for every entrepreneur who wants to accept credit or debit card payments on his website. Before opening a merchant account there are many things you should be aware of.  Everyone who is somehow related to e-business, heard the term “Merchant Account”. But it still leaves a misconception especially for those who is new to online payment industry.  Some people may mistake a merchant account for a business account, which is technically the same, but slightly different.  Merchant account is one of the elements of a business account, which comprises a range of banking products

Online payments have already become an essential part of our daily lives. Some of us probably remember the transactions and payments years ago when we had to go somewhere to send the transfers or could pay only by cash at the store And now, everything we need can be done in a minutes from our laptops and smartphones, heck, even watches! Have you ever thought which stages the money come through when you send or receive the payments online? Not only for customers, but for the online merchants the processing of online payments can be intimidating as it seems like