EPS is a single use payment method where customers are required to authenticate their payment. Germans refer to it as eps überweisung, where they use the EPS-GIROPAY systems. Austrians refer to it simply as EPS. In this Macropay review, let us dissect what EPS is and how entrepreneurs can utilise it to improve their enterprise.
Multiple Payment Options Improve Sales
Boosting sales and increasing conversion is attainable with proper payment systems in place. Reducing the percentage of abandoned carts on an e-commerce site automatically translates to more checkouts. In this scenario, laying out the foundation that allows your customers to pay without any hiccups is important.
The available payment methods incorporated in a gateway contributes greatly to the customer’s decision to proceed. Integrating EPS into a payment gateway is a strategic decision for businesses that target people who reside in Austria or Germany. EPS holds the position of most popular bank transfer payment method in these two countries. Further, 80% of merchants in Austria accept EPS online payment, that is more than 3 million online banking customers.
How does EPS work?
EPS or eps überweisung is an Internet Bank Payment or an IBP. It processes payments in euros and supports both API & HPP integration. The advantage merchants have when onboarding EPS is the no chargeback rule. This helps protect businesses from fraudulent payments and refunds.
Customers pay with EPS by redirecting from the merchant website, authorizing the payment, then returning to your website. The customer gets immediate notification on whether the payment succeeded or failed.
This system helps the entrepreneur get paid quickly and securely. Likewise, it allows the customer to pay with ease and speed. No credit or debit cards are required to authorize the transaction.