In the Netherlands we use iDEAL. Our southern neighbors are proud of Bancontact. And in Austria, EPS is the most obvious payment method. Does Your webshop happen to target customers from this Alpine country? Then it is only logical to look at the integration of EPS within Your site.
EPS is used in the next one country (s):
Do you want to be able to accept cheap EPS? Compare HERE all Payment Service Providers (PSPs) that offer EPS.
What is EPS?
Scandinavian countries are known to be quite unanimous in their payment ways. While countries such as Denmark and Sweden are generally leading in these areas, it seems obvious that we can expect more mobile payments in the Netherlands, for example.
But nothing could be further from the truth, according to various economists. According to them, Dutch payment behavior can be compared more with that of countries to the east of us. Germany, for example, but also Austria. And there the ways in which people pay traditionally differ widely.
In that respect, EPS is very useful in Austria. It is an initiative of the Austrian government and several Austrian banks to slightly reduce the number of alternative payment methods. And that works, because it is now the most used payment method for bank transfers. In other words: those who focus on the Austrian market cannot escape an EPS implementation in their webshop.
How does EPS work?
The operation of EPS is very similar to that of iDEAL. Just as with iDEAL, customers here select their bank from a list of banks, after which they are referred to the digital banking environment. After authorization, the customer has paid and as a webshop you will receive his or her hard-earned USDs on your own Dutch account. Provided you have integrated EPS in Your shop, of course.
The benefits of EPS
Safe , simple and widely used are three words that come to mind when it comes to EPS. The payments are guaranteed and practically all Austrian banks participate ...
The disadvantages of EPS
… That is also a disadvantage, because EPS only benefits you if you actually focus on the Austrian market. In addition, the fixed and variable costs differ per transaction.
Accept EPS in your webshop? These are the options!
It's easy to sign up for EPS: it requires little more than creating a new account. However, it is more difficult to integrate the phenomenon with your webshop. That requires the necessary knowledge of the platform with which the website is built, such as WordPress or Joomla.
A Payment Service Provider can offer a solution. This intermediary takes care of the complete settlement of the payment, against a - in this case - fixed amount per transaction.
The heights thereof vary and differ per PSP. Icepay asks for the lowest amount: $ 0.15 per transaction. Cardgate is the most expensive at $ 0.40 (up to 250 transactions per month).
In addition to this amount, the PSPs also charge a percentage per transaction. These percentages vary - from 1.00% with Digiwallet to 2.00% with Icepay (the Professional package), CM Payments, Cardgate (the Starter package) and Buckaroo.
Again other PSPs do not work with EPS at all. These are Easy Payment Service and USDpean Merchant Service (EMS).
Compare all PSPs and their rates and percentages? Then use our handy comparison page.