A settlement account is the Genome account selected to receive funds processed through your merchant account. The settlement account connects your payment activity with the funds available in your Genome business account.
Pay by Bank settlements
For Pay by Bank, select an eligible EUR Genome account. SEPA Instant payments usually arrive within seconds. If an instant transfer is unavailable, the payment may be completed as a standard SEPA Credit Transfer and will follow the applicable bank and clearing timelines.
Card-processing settlements — Coming soon
Visa and Mastercard card processing is coming soon for eligible, approved low-risk merchants. Card-payment authorization and settlement are separate stages, so funds will not necessarily be credited immediately after a successful customer payment.
The available processing and settlement currencies, settlement delay, rolling reserve, and reserve period will depend on the merchant's approved setup and commercial terms. Genome will confirm these conditions during onboarding.
How to select a settlement account
You can select a settlement account after your merchant account application has been approved and its status has changed to Configuring your account.
- Open the Merchants menu.
- Select the relevant merchant account and open Settings.
- Add the Genome account to which you want the funds to be settled.
Learn how to set up merchant payments in Genome
Related merchant guidance
Learn more about upcoming card payment processing and join the waitlist.
Comments
0 comments
Please sign in to leave a comment.