EPS (Electronic Payment Standard) is a debit card that could be viewed as the Austrian version of iDEAL. The payment method was launched in 2001 and has 2.5 million Austrian bank card/account holders. Nowadays, over 80% of the Austrian online retailers accept EPS as a payment method in their webshop. EPS transactions are guaranteed, so there’s no risk of reversals and/or chargebacks.
How does EPS work?
When an EPS payment is made, our system immediately provides a realtime status feedback. Thus, you can send the ordered product to your customer as quickly as possible, which enhances the customer experience. It is a fact that consumers who have experienced your payment process as reliable and clear, are more inclined to make a repeat purchase. Since its launch, the use of the online payment method EPS has increased 500%. EPS can thus be called a highly successful payment method, just like iDEAL in the Netherlands. So if your webstore(s) want(s) to serve Austrian customers, we recommend offering EPS as a payment method during checkout.
- Most frequently used payment method in Austria
- Pay with internet banking, similar to iDEAL
- Guaranteed payment for the merchant