June at Genome was all about helping businesses grow across borders, manage international payments more easily, and stay in control of daily financial operations.
We had an exciting announcement about SWIFT business transfers, allowed onboarding for a new country, and shared many useful guides to help you manage financial operations better. Read on to find out more!
SWIFT business transfers are now available for 161 destinations!
We had a monumental update for our business clients who use SWIFT for high-value B2B payments! You can now send and receive SWIFT transfers across 161 countries and territories! The complete list of destinations is always available on our website, with the most notable destinations being the US, South Korea, the UAE, Japan, Canada, and more!
The update allows companies more flexibility when working internationally. Pay suppliers, settle B2B invoices, receive funds from partners, support global operations, or manage intercompany transfers! Our SWIFT transfers for business are available in 12 major currencies: EUR, USD, GBP, PLN, CHF, JPY, CAD, CZK, HUF, SEK, AUD, and DKK.
Need to use SWIFT for your daily business operations, but haven’t tried it yet? You can check if your company is eligible for international transfers and access our feature!
Welcoming businesses from Canada for onboarding!
Our team is always happy when we can extend our services to more countries and clients across the globe. And this time, it’s a massive announcement: Canada is available for business client onboarding!
Eligible Canada-registered companies can apply for our business wallet and use our financial services to manage company funds, send international transfers, and support cross-border operations.
With Genome, you can easily receive and send funds to partners, suppliers, contractors, clients, or group companies to various destinations, as well as hold and manage money in 12 currencies! The onboarding process and all our services are available online and just one click away!
Open an account
in Genome online
Explaining why subscription businesses choose Pay by Bank over cards
Subscriptions depend on stable, recurring payments. However, card payments can fail for many reasons: card expiry, issuer declines, payment limits, insufficient funds, or replaced card details.
With Pay by Bank, customers authorize payments directly from their bank account, without entering card details. That’s why a lot of card-related issues are eliminated, and businesses switch to Pay by Bank instead! You get fewer issues caused by expired cards, lower payment processing costs in many cases, and faster access to funds where instant payment rails are available.
Genome’s instant bank payments feature allows merchants to accept Open Banking payments across Europe, with SEPA Instant Transfers used for eligible payments.
How e-commerce and agencies benefit from virtual cards for ad spend
We recently shared how virtual cards can help e-commerce brands and agencies manage ad spend with more control.
Instead of using one card for multiple platforms, clients, or campaigns, businesses can create dedicated virtual cards for each purpose. For instance, using Genome’s cards, you can set limits, track spending, reduce risks, and keep media buying organized – all online and with ease!
Inside Genome, you can generate hundreds of virtual cards from one business wallet, manage them in one dashboard, and link them to accounts in multiple currencies. A simple way to keep ad payments running smoothly across Meta, Google, TikTok, and other platforms.
Hosted vs. self-hosted payment pages: helping you choose the right option
Our team also explained the difference between hosted and self-hosted payment pages, helping merchants choose the checkout flow that fits their business.
A hosted payment page is the easier option: customers are redirected to a secure checkout page managed by the payment provider. It is quick to set up, requires less technical work, and helps reduce the merchant’s compliance burden.
A self-hosted payment page, also known as server-to-server payment or API payment integration, gives merchants more control over the checkout design and payment flow.
Genome’s hosted payment page is already available for merchants that want to accept instant bank payments via Open Banking. More payment methods, including card payment processing, are coming soon. Genome’s self-hosted payment page is coming soon as well, giving businesses even more flexibility.
Open an account
in Genome online
Managing currency conversion fees and FX risk in global e-commerce
Finally, we prepared a guide for e-commerce businesses that sell, settle, and pay partners across different currencies. Currency conversion fees and FX risk are complicated subjects that can be hard to navigate. And, if you don’t pay attention to these, they can eat into your company’s earnings quite substantially.
But no worries, we explained how to reduce unnecessary conversions, use multi-currency pricing, and plan larger international transfers more carefully.
Genome helps companies manage global payment flows from one platform. With us, you can start multi-currency accounts in 12 currencies. And, with the recent update mentioned above, you can make SWIFT B2B payments to 161 destinations. Keep your supplier, partner, and operational payments more structured and transparent!
Did you miss Genome’s previous month in review? Don’t forget to check the May updates! We unveiled our new virtual card PINs feature that allows you to withdraw funds from virtual cards and announced that the United Arab Emirates has become available for business onboarding and SWIFT transfers. Our digest also covered Genome’s guides and articles on various subjects, such as instant merchant settlements in e-commerce, B2B SWIFT payments for companies, high-risk merchant accounts, and more!
