Last Updated on June 18, 2024 by Mrunal & Jiten
Money and possible ways of their payment are a crucial points in any business. Previously small companies used cash, credit cards, and checks or opened merchant accounts in banks. The digital age gave us such preferences as online accounts and payment gateways. Therefore, customers nowadays have great flexibility in the purchasing process, while merchants should be very careful and aware of how to choose an online payment gateway for small businesses.
What is an eCommerce payment gateway?
Over the last few years, the number of payment gateways has risen astonishingly. All of them are aimed to enable digital transactions between clients and businesses. Such eCommerce payment gateway takes the responsibility for security of purchases: encrypts, forwards, and authorizes payments.
All the existing payment gateways belong to the system that comprises:
· merchant, who offers a product or service;
· merchant account — usually an online account, where all the needed transactions are possible;
· bank accounts of the merchant and customer that issue the financial details of their cardholders;
· payment processor provides the transactions between the acquirer and the merchant;
· payment gateways facilitate the transactions from the website of the company to a payment processor.
One of the main requirements for an online payment gateway for small businesses is its safety and security. That is because of a variety of frauds that appear in the online market of Europe and all over the world. Money and personal details can be stolen by scammers and fraudsters. So the merchant should choose an online account and eWallet very carefully.
Genome and its payment gateways
Genome is a reliable and well-known electronic money institution with quite a huge selection of options for individual merchants and small companies. With a Genome account on getting the perfect opportunities to:
· open merchant account in USD or EUR;
· share account with up to 20 users;
· add multi-currency account;
· make fast money transfers;
· get an analysis of all the transactions.
Those who are interested in Genome account and eWallet have to provide documents of the company online and go through a verification procedure. These steps are really easy and fast providing you with a great option for online business. The owner of the account can get access to it via any device with an Internet connection.
Money is accepted in more than 20 currencies and your clients will have 40 available alternative payment methods. That means that they will definitely enjoy your online store, presentation, and your profits are going to rise and stay safe and secure.
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