International businesses can now monetize more customers in Austria.
San Francisco, CA – Aug 30, 2016 – Paymentwall, the leading global financial technology platform, has integrated EPS (e-payments standard), an online bank transfer system in Austria, to its set of more than 140 payment methods. The integration of EPS allows both local and international online businesses to reach more customers in Austria’s growing online market.
“With EPS, international and local businesses can provide their customers with a fraud-free and convenient way to pay online,” said Irina Agieieva, Payment Systems Project Manager of Paymentwall.
Online payment preference in Austria, % (August 2016)
About 44.3% of all online purchases in Austria are made with online bank transfer, according to Paymentwall’s statistical data for August 2016. EPS facilitates online transfers by redirecting users to the webpage of their online banking account where they proceed with the transaction. The user logs in to the account and authorizes the purchase with a transaction authentication number (TAN).
Considering the high popularity of online bank transfers in Austria, local and international businesses can easily increase their revenues with EPS. They will be able to protect themselves from chargebacks or reversals, while improving user experience at the same time. With these features, integration of EPS helps local and international businesses in Austria set themselves apart from the competition and quickly gain market share in the country.
About Paymentwall (www.paymentwall.com)
Paymentwall is the leading global financial technology platform. The company has partnered with over 140 payment method providers worldwide to offer global payments coverage for users in more than 190 countries with credit and debit cards, mobile payments, e-wallets, bank transfers, prepaid cards and many others. Notable business partners of Paymentwall include SEGA, Bandai Namco, Shopify, Game Insight, iRacing, Tencent and Gameforge.
Paymentwall was founded in San Francisco in 2010, by entrepreneurs Honor Gunday and Vladimir Kovalyov to monetize Facebook games. In 2011, after Facebook limited access to its platform, they grew their business without depending on any company or any single country, but with global principles in mind. Today, Paymentwall processes billions of dollars for 110,000+ merchants, operates 13 offices and employs over 200 people worldwide.
About Electronic Payment System (EPS)
The Electronic Payment System (EPS) is an online bank transfer payment option in Austria. EPS can be used by over 2.5 million customers in Austria that have bank accounts. The online bank transfer scheme covers different local banks, such as Bank Austria Creditanstalt, BAWAG P.S.K. Gruppe, Erste Bank und Sparkassen, Raiffeisen Bankengruppe, Volksbanken and Hypothekenbanken.
The online bank transfer scheme was created in 2001 by STUZZA, together with the Ministry of Finance, Austrian banks and the Chief Information Office (CIO) of the Austrian Government. EPS allows customers to pay for online purchases directly from their bank account, and complete their transactions instantly. More than 80% of online stores in Austria are already using EPS as one of their payment methods.