What is it?
EPS (Electronic Payment Standard) is an online transfer system developed jointly by the Austrian banks and Government. It provides a simple and secure process of online payments to millions of users in Austria.
Benefits include :
- Guaranteed payment (no chargebacks)
- All Austrian banks supported ✅
- Fast settlement
- Free of charge for consumers
How does it work?
- Select EPS: Shopper chooses EPS from the list of payment methods.
- Select bank: Shopper selects a bank from the list of options.
- Enter bank details: Shopper is redirected to the bank environment and enters bank details.
- Confirm payment: Shopper confirms the payment.
- Confirmation page: Shopper reaches the confirmation page and is redirected back to the merchant's site.
Payments via EPS are in real-time and cannot be canceled or reversed. Therefore, merchants are also guaranteed payment from the purchase.