We made August all about smart payment scaling at Genome! Our team shared practical guides to help companies handle cross-border payments in different currencies, manage high-risk chargebacks, and choose between SWIFT and SEPA Instant Transfers.
Whether you operate a travel agency, an iGaming platform, or a growing online business, read on to discover our main insights!
Merchant accounts and payment gateways: getting both right
Merchant accounts and payment gateways work together, but each has its own job. The gateway sends payment details for approval, while the merchant account receives the money from approved transactions.
Our guide that compares merchant accounts and payment gateways explains how each component fits into online payment processing. When it comes to an optimal checkout, both are crucial!
Understanding the difference makes it easier to compare providers, review fees, and choose a payment setup that fits your sales model.
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in Genome online
Exploring merchant accounts for travel agencies and seasonal bookings
Travel companies often deal with sudden booking peaks, payments in different currencies, and long gaps between a purchase and the actual trip. Naturally, it can severely complicate payment processing and cash-flow planning.
Our article on merchant accounts for travel agencies explains how an industry-designed payment setup can support seasonal booking volumes and cross-border payments.
We also explored how using multi-currency accounts and instant bank payments can help in the matter. With the right tools, travel businesses can spend less time untangling payment flows and more time helping clients get where they want to go.
Managing international finances with a multi-currency account
Receiving revenue in one currency, paying suppliers in another, and settling payments in a third can quickly make accounting more difficult. Automatic conversions and unclear exchange costs can also reduce margins along the way.
Thankfully, a multi-currency business account can make international money management easier. Genome business clients can hold and manage 12 currencies from one platform and use them for SWIFT international transfers. They can settle merchant payments in euros when using Pay By Bank and will have a card payment processing option in the future!
A multi-currency account gives companies more control over when they convert funds and allows them to cover expenses in supported currencies without moving money between several disconnected accounts.
Choosing an acquirer and preparing for merchant approval in the EEA
Finding the right payment partner in the EEA takes more than comparing processing fees and finding the cheapest option. Settlement times, currency conversion, rolling reserves, contract terms, and payment acceptance rates can all affect how much money your business keeps and how quickly it becomes available.
Our guide to choosing a card acquirer in the EEA covers the key questions to ask before signing an agreement and getting a merchant account.
Our team also explained what underwriters check when reviewing high-risk merchants, including company ownership, payment history, compliance documents, and website policies. Together, the two guides can help you compare providers more carefully and prepare a stronger merchant account application.
Reducing chargebacks for high-risk merchants
Chargebacks are more than an occasional inconvenience for high-risk merchants. If dispute levels rise, a business may face higher fees, larger reserves, or even restrictions on its payment processing.
Genome is no stranger to the subject, and we’ve prepared chargeback prevention tips for high-risk merchants. Clear billing descriptors, easy-to-find refund terms, quick customer support, and fraud prevention tools can all make a difference.
We also covered how alternative payment methods such as Pay by Bank can help. Since customers authorize these payments directly through their banking environment, businesses avoid the traditional card chargeback process for those transactions.
Building payment infrastructure for MGA-licensed operators
For an iGaming operator, obtaining an MGA license is only one part of running the business. After all, you have deposits, withdrawals, player verification, transaction monitoring, and cross-border payouts to worry about on a daily basis.
Getting all your tools in order can be challenging, so we explored the payment infrastructure for MGA-licensed iGaming operators and the financial services you might need. Our team covered instant bank payments, SEPA transfers, multi-currency accounts, automated compliance checks, batch payouts, and corporate cards.
When these services are available within one setup, operators can manage high payment volumes more efficiently while keeping their financial operations easier to follow.
Open an account
in Genome online
Choosing between SWIFT and SEPA Instant Transfers for your business
There is no single money transfer option that works best for every business payment. The right option depends on where the money is going, which currency is used, how quickly it needs to arrive, and how much the transfer may cost.
Our comparison of SWIFT vs SEPA Instant for business transfers explains the key differences. SEPA Instant is designed for euro transfers within the SEPA area and can deliver funds within seconds, 24/7/365. SWIFT supports payments across a much wider international network and is useful when businesses need to send money beyond Europe or use other currencies.
Genome business clients can use both! We offer SEPA Instant Transfers for fast euro payments and SWIFT for international transfers across 161 countries and territories in 12 currencies. Both are great options for different occasions and depend on your payment destination.
Did you miss Genome’s previous month in review? Don’t forget to check the July updates! We covered multiple topics, including international business accounts and transfers, automated payouts, dedicated IBANs, currency exchange, e-learning and SaaS payments, supplier payments, and virtual cards for digital agencies.
