payment processing
Business services
Payment processing for business: what to know
If you have a company, step one in our financial activity will be opening a business account. After all, you need it for main banking activities, such as sending and receiving funds, ordering debit and credit cards, etc. But what about step two? Well, if you sell goods and/or services, this step will be getting a merchant account. But before you do, you also need to know the basics of merchant processing and processing systems. Find out all the necessary information about payment processing in this Genome article. Payment processing as a part of payment systems for business There are
Business services
How to choose a payment gateway: a comprehensive guide
There are many aspects to financial services for companies that sell their goods or services. One such thing is a payment gateway. Unfortunately, only a few merchants dive into the nitty-gritty of how the right payment gateway can improve your conversions. Genome is here to fix that! In this article, our team will explain how to choose a payment gateway for your e-commerce store and other types of business. We will also uncover the difference between payment gateways and payment processors, as some people consider them the same thing. What is a payment gateway? Before learning how to choose the
Business services
Understanding host-to-host payments in banking and host-to-host payment pages for merchants
When it comes to banking, the number of components it consists of is staggering. And while some of these components, such as bank accounts, credit cards, and wire transfers, are well known, others, like host-to-host payments, are obscure. Today, Genome will describe how host-to-host payments work, as well as explain what host-to-host payment pages are. Host-to-host payments meaning in banking In the modern financial world, the host-to-host term (H2H for short) mainly refers to host-to-host payments and host-to-host payment pages. The former can often be found when corporate financial operations are mentioned, while the latter is a type of merchant
Business services
Bank account for e-commerce businesses – how to choose the right one
Due to the growing popularity of online shopping, the e-commerce industry has become a playfield of ferocious competition. That’s why such companies must ensure they have the most advanced tools and services the financial sphere can provide, including bank accounts. In this article, Genome’s team explains how to pick the best business bank account for e-commerce and how to use it. The basis of e-commerce bank accounts So, if you are about to start a company that will delve into e-commerce, you probably wonder, “do I need a bank account for e-commerce business?”. Yes, you absolutely do. As with any
Business services
How to accept payments online in 2022
Predictably, the eCommerce sphere has been growing immensely during the past few years. At first glance, accepting money online, especially if we’re talking about different payment types, seems like a hectic thing to do. However, it all gets easy peasy lemon squeezy when you actually have everything set up. What’s more, many financial services providers, Genome included*, have taken care of things so that payment processing requires minimum involvement from sellers. Today’s article explains all the tools needed to accept funds online in Europe and other parts of the world. Let’s start with a detailed overview of the payment lifecycle to understand everything better. To accept
Business services
Navigating high-risk payment gateways: a comprehensive guide for businesses
The article has been updated on March 29, 2024 Obtaining a high-risk business can seem problematic at first. Not all payment processors are equipped to accommodate high-risk businesses. But with a closer look, it is simple. In this Genome article, let’s talk about what a high-risk merchant account is and how to open it. Navigating the landscape of high-risk merchant accounts In today’s complex financial ecosystem, understanding the intricacies of a high-risk merchant account is essential for businesses that want to select a reliable service provider and improve their financial operations, attract more clients, and stay compliant with regulations. What
Business services
How to Securely Accept Credit Card Payments Online: a Check List
If you are an entrepreneur who wants to start selling products and/or services online but isn’t quite sure how to begin and what to do, or, maybe, you have your doubts about the security of online business and seek to protect your income — this article is for you. You have every reason to worry, as e-commerce is riskier than offline retail and services. However, modern technology and legislation come up with more and more instruments and regulations to keep your customers and business safe.In this blog post, we will walk you through the stages you need to complete to
Business services
Understanding chargebacks: a complete guide
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
Business services
International merchant account: how to open, how to choose a third party
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