payment processing
Business services
Why card payments fail at checkout and how merchants can prevent them
Every year, merchants watch as a significant percentage of customers drop off at the final stage of checkout. And it is not always because shoppers changed their minds, but because something went wrong at the payment step. Failed card payments are a problem, and there are many reasons for the phenomenon. Recently, Mastercard noted in its checkout research that 8 out of 10 online shoppers abandon their shopping cart. On average, among every 100 customers, around 80 abandon the purchase after adding an item to the cart. At the same time, the Baymard Institute calculated that the US and EU
Business services
Card processing vs. Open Banking: what’s the difference?
Paying online is not just entering a credit or debit card number at checkout. Traditional card processing still dominates non-cash payments in Europe, powering billions of transactions through card networks and merchant accounts. Numbers will speak better than any words – just look at the latest official statistics from the European Central Bank. The total number of non-cash payments in the euro area in the first half of 2025 was 77.7 billion transactions. Card payments accounted for 57% of non-cash payments, totaling 44 billion, with a value of 1.7 trillion euros. While this model still works well, Open Banking is
Business services
Card payment processing for merchants: the complete guide
If you go to the small business or e-commerce forums, you will see the common question threads over and over again: “My funds were frozen for 120 days with no explanation.” “I’m paying 3.5% in fees – is this normal?” “Do I really need a separate gateway and a bank account?” To the customer, hitting “Pay” is nothing special. But for you, the merchant, card payment processing is often a black box. You build a business, you make sales, and then you wait for the acquiring bank to deposit the money. The reality is that traditional banking is complex. In
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
How to choose the best bank for an ecommerce business
The ecommerce/e-commerce business landscape has grown massively in recent years and is expected to climb from US$4,3 trillion in 2025 to US$5,9 trillion in 2029. While this rapid acceleration has created numerous opportunities, it has also led to issues, such as needing to know what the best bank account for this sector is. We’ll be looking at how understanding business banking services allows you to get a suitable ecommerce account. In this article, Genome‘s team explains how to pick the best business bank account for ecommerce and how to use it to benefit your business needs. The basis of ecommerce
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