Merchant services
Open multiple merchant accounts online in Genome
When you open an account for merchant services, there are lots of details to consider. Accept payments with ease. Learn how to get an online merchant account for your needs.
Merchant services
What is a merchant account?
It is a type of account that lets businesses accept credit/debit card payments, bank transfers, and more. You can start accepting payments by partnering with Genome. Payment processors are used to swiftly process payments from clients who use a debit/credit card or other e-payment method. The money you receive is efficiently and safely transferred to your business account.
Merchant services Genome offers
Genome lets your business accept payments securely, access transfers and merchant services in Europe, and benefit from advanced anti-fraud tools. Businesses also enjoy the benefits of SEPA Instant Transfers and international money transfers, including SWIFT payments, CHAPS, BACS, Faster Payments, and TARGET2. 24/7 access to your account through Genome’s online platform and app gives full control at any time.
Online payment processing
Let customers with bank accounts all over Europe pay you quickly and securely with SEPA Instant/Credit transfers. And stay tuned - credit and debit card processing is launching soon!
Recurring and subscription billing
Genome is perfect for e-commerce, iGaming, SaaS companies, and digital services providers. Automate regular payments smoothly while ensuring secure transactions. Use advanced reports to track them.
Multi-currency accounts
Accept payments and get them settled into your business bank account. Exchange currencies between your multi-currency accounts in EUR, USD, GBP, PLN, CHF, JPY, CAD, CZK, HUF, SEK, AUD, and DKK.
Security and compliance
Genome ensures that your data and payments are protected at all times - we maintain full compliance as an EU-regulated EMI. Genome is PCI DSS, PSD2, DORA, and GDPR compliant, and has ISO 27001/27701 certifications.
Merchant services
How to open a Genome merchant account
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Merchant services
Do business your way with our merchant payment services
Financial institutions impose many rules and demands upon companies. You might see strict requirements for merchants that make it awkward to get started, particularly for what banks consider high-risk merchant accounts. Or you might be put off by a high monthly fee or a one-off setup fee. In some cases, opening an account requires you to put in a lot of time and effort. We provide online merchant account options that are simple to access, so you can start to accept electronic payments after completing the process to open your account. It gives you related services like payment processing and SEPA Instant/Credit bank transfers.
Why choose Genome for your merchant account in Europe?
As an Electronic Money Institution, we combine the best practices of traditional banks with the advanced financial services the fintech industry offers. It makes financial services accessible, convenient, and swift for merchants. Genome is safe to use, as the financial operations are protected from fraud. Here's why companies choose us for a business wallet, merchant services in Europe, payment processing, and more:
Licensed EU EMI
Genome is a fully compliant EU Electronic Money Institution, licensed and supervised by the Bank of Lithuania. The security of your funds and data is our top priority!
Transparent pricing and competitive fees
Enjoy clear, upfront pricing with no hidden charges for separate business categories. Genome offers competitive fees to help businesses manage costs efficiently.
Integrated financial ecosystem
Easy access to features via the app or the website dashboard. Inside Genome, we combine your merchant and business accounts for seamless financial operations with all the essential services.
Dedicated support team
Every merchant in Genome gets a dedicated account manager. They provide professional assistance and specialist technical knowledge to answer any questions regarding integration, setup, etc.
Can I accept instant bank payments (Pay by Bank) inside Genome?
While traditional accounts for merchants rely heavily on credit card networks, Genome allows you to accept instant bank payments directly at checkout. By utilizing our instant bank payments / Pay by Bank solution, powered by Open Banking, your customers can transfer money directly from their bank account to yours. This allows you to bypass card networks entirely and eliminate the risk of card-related chargebacks.
Accept payments instantly
Merchant services
Card processing and fast settlement times
We are expanding our merchant services to include credit and debit card processing soon. This feature will let you accept Visa and Mastercard globally, giving customers more ways to pay. Our card processing pricing will combine a standard Merchant Discount Rate (MDR %) with a flat fee per transaction. Exact rates and fee tiers based on business risk profiles and processing volume will be published at launch. When you open a merchant account online with Genome, we ensure fast access to your funds. For payments accepted via Open Banking, payouts settle within seconds for SEPA Instant transactions and within 4 hours for SEPA Credit. Once card processing launches, those transactions will settle into your business wallet on the next business day. Having both these payment options is pivotal if you need a merchant account in Europe.
Online merchant account that suits multiple industries
E-commerce
Scale your retail brand with a dedicated e-commerce merchant account. Accept international payments, utilize Open Banking, and secure transactions with advanced anti-fraud tools. Genome provides a reliable e-commerce merchant account in Europe for high-volume digital storefronts.
iGaming payments
Secure your iGaming platform with a high-risk compliance setup. Process multiple deposits from players and manage user payouts. Start an online merchant account designed for iGaming-related entertainment and tap into the premier merchant account in Europe that offers regulatory compliance.
Travel industry
Bookings require flexibility and robust protection. Secure a reliable travel merchant account to manage hotels, tours, and agency bookings. Reduce cross-border transaction costs and manage payments easily with a tailored travel merchant account built for global tourism.
Transportation
Keep your fleet moving and your transactions fluid. Easily process booking fees, passenger tickets, and delivery payments globally. With an online merchant account for the transportation industry, you get swift settlements and instant tracking to manage your operations on the go.
Event industry
Sell tickets and manage booking flows securely. Our internet merchant account for the event industry allows clients to pay you with ease, and with card payment processing coming, you will expand your clientele even further. Get an account online with transparent fees and easy onboarding.
SaaS companies
Simplify subscription billing with an agile online merchant account with Open Banking support. Perfect for cloud platforms, our system protects your revenue with a secure internet merchant account supporting international compliance.
Our pricing for low and high-risk merchant accounts is transparent
See the full pricing
Low-risk merchant accounts
Initial business EUR IBAN account opening fee
100 EUR
Monthly account fee
10 EUR / month or 100 EUR / year
Additional (EUR or multicurrency) account opening
Free
Monthly multicurrency account fee
Free
Merchant account application processing
Free
Unlimited merchant accounts, each corporation
Free
Payment initiation fee (Open Banking)
0.30 EUR
Payout to Genome account
Free
High-risk merchant accounts
Initial business EUR IBAN account opening fee
500 EUR
Monthly account fee
100 EUR / month or 1000 EUR / year
Additional (EUR or multicurrency) account opening
1000 EUR for USD account
500 EUR for each additional account in other currencies except EUR
0 EUR for additional EUR account
Monthly multicurrency account fee
100 EUR
Merchant account application processing
Free
Unlimited merchant accounts, each corporation
Free
Payment initiation fee (Open Banking)
0.55 EUR + 4%
Payout to Genome account
Free
Rolling reserve for high-risk merchants
A rolling reserve is a portion of every transaction reserved by Genome to cover potential chargebacks, refunds, disputable transactions, and other financial liabilities. The exact reserve percentage and holding timeframe are determined based on an assessment of your company's risk level.
Merchant services
Discover more Genome services
Instant payouts
Receive clients' payments and instantly settle them into your business account to use for your operational needs!
Accept payments via Open Banking
Customers can pay merchants directly and within seconds thanks to SEPA Instant Transfers.
Hosted payment pages
Hassle-free hosted solution for your website - allow clients to pay through a redirect link quickly and securely.
Merchant analytics
Use advanced merchant analytics tools to oversee and optimize your merchant account performance through one platform.
Merchant services
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Genome merchant
Do you have any questions regarding Genome?
Find answers here or contact us using the application form
How to get a merchant account?
You can start an account if you have a company and need to accept credit cards, bank transfers, and other electronic payments. A bank or a payment service provider might have different requirements for companies to open a merchant account online. With Genome, the process is simple, safe, and swift. If you’re looking for merchant services in Europe, we have what you need!
How to apply for a merchant account online?
You will only need access to your phone, Genome's website, and identification documents for you and the company. The onboarding process is carried out online. First, you are required to open a business checking account. When that is done, apply for an account online: provide information about your company, as well as scanned documents that confirm ownership. Depending on how many accounts you need, you can start additional accounts on our platform. Feel free to contact our customer support if necessary.
What is the difference between a merchant account and a business account?
A business account is where you store and manage your company’s money (like paying bills and expenses). A merchant account lets you accept card and online payments from your customers.
What is a merchant account fee?
Business owners need to pay fees for merchant services, for instance, a monthly minimum fee, a transaction fee, etc. Genome's fees for some services differ for low-risk and high-risk accounts. For more information on fees, visit Genome's pricing page.
Do you provide high-risk merchant accounts?
Yes, Genome offers high-risk merchant accounts as well. Please check our dedicated pricing for high-risk merchant accounts, as well as the list of permitted industries by risk level.