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Alternative payment methods: strength and challenges merchants should understand
There are so many things to banking that some topics aren’t as discussed as others. Unfortunately, the alternative payment methods (APMs) fall into the category, unrightfully so! You see, the APMs are the alternatives to cash and card payments, but throughout the years they became quite widespread and functional. Check out Genome’s article “Are Alternative Payment Methods the New Banking King?” to find out what it is about APMs that customers prefer. Here are some of the riveting points described in the article to pick your interest. Alternative payment methods drive diversity in customers’ options A great thing about APMs
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Genome was chosen as a new partner for parking services in Lithuania
Not only is Genome proud to be a part of Lithuania’s Fintech landscape, but we are now also facilitating payments for Lithuanian national parking, after winning a tender. It means that any driver can now pay for parking fast and securely if they are in Vilnius, Kaunas, Klaipėda, or Trakai, as we help out around 30 thousand customers per month. The Municipal Enterprise has updated its infrastructure to accept more transactions and provide clients with delay-free services. The decision to widen available payment methods options grew because previously it was available only for Mobile operators’ clients with monthly subscriptions. That forced tourists
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Important things to consider: tips for new Fintechs from Genome
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
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Mastercard has changed its fraud and chargeback merchant compliance programs
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
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We are in this together: how Genome helps out companies during the lockdown
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
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Case Study: How Genome uses Onfido’s technology to provide better services for our clients
We at Genome are proud to partner with companies that can help to enhance our services to the maximum potential. And Onfido is a great example of such. So we’re proud to announce the full case study, where you can get more insights on how Genome benefited from using Onfido. Onfido is an identity verification service that utilizes AI technology to prove a person’s identity and is used by businesses around the world within different industries like e-Commerce, gaming, healthcare, travel and vehicle hire, and financial services. We found out more about Onfido while looking for a company that would
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Genome is canceling service fees for Lithuanian companies
We at Genome are proud to be acknowledged as a part of the Lithuanian Fintech landscape. As of 2020, there are over 200 Fintech companies here, and thanks to that Lithuania became the largest Fintech hub within the European Union by the number of licensed companies and was placed 4th in the Global Fintech Rank. It feels great to make a contribution to the country’s development, and we want to continue doing so. Hence, Genome is annulling all the service fees for companies based in Lithuania and for all our existing Lithuanian clients starting August 17th, 2020. We are also
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The COVID-19 impact: what innovations and changes are shaping Fintechs’ future
The COVID-19 pandemic definitely has pushed financial institutions to change the ways they operate and come up with new solutions for this. These and other topics were recently discussed during the Fintech week Lithuania online conference on the 15-18th of June. Genome also participated in the event and we would like to share some of the most interesting ideas voiced during a panel “The most exciting COVID-19 crisis innovations that will shape the future of Fintechs”. The issue was deliberated on by the head of Fintech Lithuania at Infobalt Paulius Tarbūnas, head series producer and host at Fintech Finance Douglas
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Genome is acknowledged as a part of the Fintech landscape in Lithuania
It’s been a bit more than a year since Genome opened its beta to the public during The White Nights Conference in Berlin. But a lot has happened since then: our EMI was recognized as the Best Online Business Payments Platform 2020 within Europe, launched a referral program beneficial to our clients, and also started a COVID-19 initiative to support low-risk businesses during the pandemic. We tried our best to gradually enhance the quality of our services, and thanks to that became a part of something even greater. Invest Lithuania, the Lithuanian investment promotion agency published a report called “The Fintech Landscape in Lithuania 2019-2020”. In it, the