Electronic Payment Services

Electronic Payment Services (Chinese: 易辦事), commonly known as EPS, is the largest electronic payment system in Hong Kong, Macau and Shenzhen starting from 1985. The service is provided by EPS Company (Hong Kong) Limited. Currently there are over 20 000 acceptance locations.

Provider

Established in 1984, EPS Company (Hong Kong) Limited (formerly Electronic Payment Services Company) is currently a consortium of 22 major banks in Hong Kong.

System

In each retail location, a terminal is installed and is usually connected to a POS system of retailer. The terminal can also connect to banks through the public phone system. The operation of the system is easy. The retailer swipes a customer's ATM card on the terminal and keys in the payment amount. The cardholder then selects the appropriate bank account and keys in the PIN. After successful connection to the bank, a receipt will be printed for customer and retailer. Some automatic terminals require the cardholder insert his or her ATM card into a terminal machine rather than have the merchant swipe the card. Payment for each transaction is directly transferred from the payer's bank account to receiver's. The service provider collects a percentage of the payment amount from the retailer.

See also

• Payment by Phone Service (PPS)
• Octopus card
• Credit card

External links

• Official website