Instant SEPA Transfers
Business services
What is a money transfer API? A complete guide
We aim to explain what APIs (application programming interfaces) truly represent and how financial institutions utilize API banking to facilitate money transfers. The reason for that is twofold: first, the growing popularity of using API to send money or utilize other financial services, and second, Genome, as a provider of API-driven payment tools, sometimes faces questions from clients such as “What is banking API,” “Do I need API for a bank account,” and so on. Discover what API banking is and how Genome utilizes APIs for its financial services below. What is an API money transfer? In broad terms, a
Money and you
TARGET2 vs. SEPA: key differences explained
When comparing SEPA and TARGET2, it is essential to begin by explaining that both are integral components of the European payment system. They can both be described as foundational systems that allow the European Central Bank to ensure cross-border payments are smoothly controlled and carried out efficiently. The main difference is that SEPA and TARGET2 (T2) have different use cases. One is widely used for retail payment processing, while the other is best classed as a wholesale payment system. By looking in more detail, we can see how commercial banks can use these methods to meet client demands more effectively.
Business services
How to make VAT payments online as a business owner
Value Added Tax (VAT) is a standard component of business operations in 175 different countries, including the EU countries. In fact, the European Commission plays a central role in shaping VAT rules across the EU countries. It is a type of consumption tax that is often confused with sales tax, but it differs significantly in structure. Countries use either sales tax or VAT to tax consumer spending, but they collect them in different ways. Still, VAT is more complex due to its refund system for businesses, which makes those fiscal responsibilities even more critical. To sum up, VAT differs from
Business services
How to attract investors for an iGaming business: a guide for 2025
The online gambling business is in good shape, a rapidly growing industry with an enormous 5,42% annual growth rate for 2025-2029, which is more than the expected GDP growth in many countries. Global iGaming market trends indicate it’s a worthy investing pool, and it provides many opportunities for rapid growth for iGaming businesses. In this article, our team explains how to attract investors for iGaming business companies, providing some tips on what you can do to succeed. Understanding the iGaming market landscape First and foremost, why is the iGaming market in such a good position? If we take a look
Business services
What is an ACH payment? A complete guide to Automated Clearing House transactions
ACH payments (Automated Clearing House payments) provide one of the most important ways of moving money between banks in the US. It is regarded as a highly efficient and secure method of making transfers from one bank account to another, making the ACH transfer process extremely popular in different industries. What are Automated Clearing House (ACH) payments? ACH payments are electronic transfers between financial institutions in the US, involving transfers from one financial institution to another across the ACH network. ACH transfers are typically used for transactions, including bill payments, paychecks, and recurring monthly debits. Social security payments and tax
Money and you
Choosing the best money transfer app for your financial needs
According to the latest search carried out by Juniper Research on the topic, 40% of mobile users in 35 countries around the world will start actively using mobile financial apps in the next five years. It leads to the question of how to choose money transfer app options that are right for each person. To get started and find the best international bank transfer app, we need to look at the basics and then the key features you need. What is a money transfer app? A money transfer app is a digital tool that shows users how to transfer money
Product news
Unlock the full potential of SEPA Instant transfers with Genome!
In today’s fast-paced world, speed and efficiency are more important than ever, especially when it comes to financial transactions. Our team at Genome knows that all too well, and we are happy to share the news about our transfer feature! Genome’s game-changing SEPA Instant Transfers are now available for outgoing payments as well! Now, you can send and receive transfers in euros within seconds. Such a transfer option is perfect for the momentary, cost-effective day-to-day financial operations and business transactions within the Eurozone. Note that the payer’s/beneficiary’s financial institution needs to have the SEPA Instant scheme integrated so they can
Money and you
Wire transfer vs bank transfer: understanding the differences
The article was updated on 12.12.2024 To common users of banking services, money transfers are money transfers. As in, you don’t consider them complex – they are just tools for receiving and sending money. But then, you face many terms like bank transfers, wire transfers, electronic payments, online transfers, etc. And you start to wonder – “Is there a difference between all of these?” and “What should I use?”. Well, let’s figure it out together! In this article, Genome will primarily focus on bank transfers and wire transfers and how they differ when it comes to sending money. What is
Money and you
SEPA payment: a comprehensive guide to Single Euro Payments Area transactions
The Single Euro Payments Area (SEPA) initiative was and still is an incredible solution for improving transfers within the Eurozone, allowing for safe and fast payments. If you live, work, or have a business in the EU, SEPA transfers are definitely what you need to explore. In today’s Genome article, we explain SEPA transfers – the most common transactions abroad within the European Union. We will dive into different types of SEPA transfers and talk about the pros and cons of this pan-European network. What is SEPA? SEPA transfers are standardized euro payments across Europe that enable quick payments between