EPS Payments

Payments for Austria

Last Updated : 10th Aug 2021

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Installation Duration : 10 to 12 Business Days

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What is EPS Payments?

EPS stands for electronic payment standard. It is an Austrian online transfer payment method developed jointly by the Austrian banks and government. The platform owns approximately 18% market share and is accepted by 80% of all online businesses in Austria.

To make a payment using EPS at checkout, customers choose EPS, choose the right bank name, and log in to their online banking account. They review the pre-populated payment details and authorize the funds to be credited directly to your business account.

Why use EPS?

  • Since it is officially supported by the government, the security factors are high.
  • EPS ensures a high success rate and faster transactions with proper billing.
  • EPS supports all Austrian Banks.
  • EPS is supported by the famous payments company Adyen.
  • To keep you up-to-date with your spendings it sends instant payment notifications and gives a detailed transaction history.
  • It supports complete and partial refunds on the go.
  • EPS charges no setup fee.
  • EPS provides a 24/7 help service to tackle issues regarding payments.

Best suited for

If the admin has a large student and tutor base from Austria, EPS will be ideal to handle payments for that case. EPS aligns with the Austrian rules and regulations related to banking. Thus, there will be fewer problems related to payments when the admin uses EPS for all payments based on Austria.

Frequently Asked Questions

What are the currencies allowed in EPS?

EURO is the only currency allowed.

Does it allow recurring payments?

No, there are no recurring payments.

For more FAQ’s visit – https://stripe.com/docs/payments/eps

What are the transaction fees taken by EPS?

There are different charges for different regions. Visit here to know more.

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