Are merchant accounts the same as business accounts?

No. A business account and a merchant account serve different purposes.

A Genome business account allows your company to manage its business funds, while a merchant account enables your company to accept and process customer payments. You can apply for a merchant account after your Genome business account has been approved.

Pay by Bank is currently available for eligible merchants. Visa and Mastercard card processing is coming soon, initially for approved low-risk businesses. Availability depends on factors including your country of registration, industry and merchant category code, processing currencies, due diligence, risk approval and technical setup.

To get started, see how to apply for a merchant account. After approval, follow the instructions on how to set up merchant payments in Genome.

You can also learn more about settlement accounts and Genome's merchant services.