Sep 12, 2016
The Electronic Payment System (EPS) is an online bank transfer payment option in Austria. In Austria,over 2.5 million customers who have bank accounts can use EPS to pay for goods.This online bank transfer payment process involves several local banks,such as Bank Austria Creditanstalt, BAWAG P.S.K. Group, Erste Bank and Sparkassen, Raiffeisen Banking Group, Volksbanken and Hypothekenbanken.
The online transfer procedure was launched in 2001 by STUZZA in cooperation with the Ministry of Finance, Austrian banks and the Central Information Office of the Austrian Government.With EPS,customers can pay for their online purchases directly from their bank account and make the transactions immediately.In Austria,over 80 percent of online stores already use EPS as their payment method.
According to the research,in Austria,approximately 44.3% of all online purchases are made with online bank transfer.EPS facilitates online transfers by directing users to the website of their online bank account, where they make the transaction. The user connects to the ggvaccount and authorizes the purchase with a transaction identification number.
Given the great popularity of online bank transfers in Austria, local and international companies can easily increase their profits through EPS.You can protect yourself against chargebacks or cancellations while improving usability. Thanks to these characteristics, the integration of local and international EPS companies in Austria allows us to stand out from the competition and quickly gain market share in the country.
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