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The world of commerce has undergone a number of changes and improvements, making use of all the tech advances of the new age. People nowadays have much less communication, financial and time management issues, and accessibility limitations than half a century ago, and it is largely due to the efforts of existing companies.
Most newly created technologies have been adopted by established brand names in an attempt to refresh their product offering. At the same time, it turned into a major marketing and promotional strategy, as they would bank on their reputation, affirmed user satisfaction and brand recognition in order to launch a novelty.
Among these, banks and financial institutions...
...were practically synonymous with credibility, thus scoring the most in such commercial endeavours. In their sphere of work, cashless money transfer had been the ultimate goal, and online payment processing mechanisms are the ones to make it available to users. One such instance is the STUZZA service, EPS.
In light of the newly created demand for online payment processing solutions, the Austrian establishment STUZZA has taken the matter in their own hands. They first started off with the NetPay service, but shortly afterwards decided to rebrand it into EPS. The latter is known to be a joint effort of the greater portion of Austrian banks, around 25 institutions, as well as the Austrian Ministry of Finance and the Chief Information Office of the government of Austria.
It is widely recognized...
...for its association with Wirecard, and only further boosts its credibility by the fact that it cooperates and practically makes use of the Erste group. Their online banking system is regarded as the core of EPS transactions, due to the unique nature of the Electronic Payment System, or EPS for short.
This system is developed...
...to perform the role of a mediator, an means od payment processing that primarily aims to take the funds to the user’s desired destination. You will need to set up and quickly go through the basics of registration at the service’s online platform. In practice, the process consists of a few simple steps and should allow intuitive funds transfer in no time:
Step 1: Anyone interested in making use of EPS payment processing should firstly check whether they are eligible to use the service. So far, this electronic payment system has only been made available to Austrian residents. What is more, you would need to hold an account with one of the partnering banking institutions. Even under these circumstances, most banks in Austria gave nowadays added the EPS functionality to their online banking service, and allow all their clients to perform such online payments.
Step 2: Once you have checked for eligibility to use theservice, and found the suitable online merchant to use it with, your next stop should be the EPS official website. Access the page dedicated to new registrations and enter the required information. You will most likely be required to enter some personal identification info, as well as banking details in order to link your EPS account with the bank account you are planning to use.
Step 3: Upon finishing the sign up process, users can direct themselves straight to the online merchant of choice. The best part is that they can make use of all the service’s benefits from the first transaction onwards.
EPS as an Online Casino Payment Method
Due to the specific nature of the service, as well as its unique orientation towards Austrian users, the online gaming and gambling platforms have quickly identified its wide potential in their area of work. Online casinos, poker and bingo rooms, as well as sports betting and similar platforms have all found ways to incorporate the EPS payment processor among their banking methods.
Nowadays, Austrian online players have only to learn the simple few steps process of depositing and withdrawing with the EPS mechanism in order to experience the benefits.
Depositing with EPS at Online Casino Sites
The process of depositing money at your chosen casino site is essential in order to be able to enjoy real money online gambling. While most casinos and appropriate processing services aim to ensure speed and security as top priorities, each does this in a different manner. The EPS processing system is extremely intuitive and straightforward in this regard, allowing users prime transactions that meet these requirements.
Step 1: Before you embark on an online casino gaming experience funded by EPS’s functionality, it is advisable to find a suitable casino operator. Choosing one with your preferred software providers’ game portfolio and benefiting casino bonus and promotions section is sure to make the entertainment effect all the more enjoyable.
Step 2: Once you have found a platform and registered for your very own online casino player account, all you need to do is head to the Banking section and choose EPS as a payment method. This should have you ready for your real-money online gambling endeavors in no time. Once you click on the service’s name, you will be presented with a window listing all its partnering banks. Just find the one you hold an account with, and select it.
Step 3: Choosing your appropriate bank will direct you straight to the familiar online banking platform you have been using in general. Log in with the familiar credentials and enter the amount you wish to transfer to your online casino account. Prior to executing the transaction, the service will most likely require you to confirm it as an extra layer of security. Afterwards, it shouldn’t be too long before EPS mediates the funds from your regular bank account to your online casino of choice.
Withdrawing using EPS at Online Casino Sites
The EPS online payment processing option is only somewhat available for withdrawals, across a limited selection of online casinos that feature this banking method. This may be a bit limiting for online casino players who don’t like transferring from one payment method to another depending on the transaction.
As for those…
…that are offered the option to cash out their online casino winnings with the service, all you need to do is choose it from the list of eligible payment options. After that, players will be redirected to their regular online banking platform. Upon entering all required information, the funds are instantly transferred via the intermediary channel that is EPS, from the casino platform to the regular bank account.
Advantages of Using EPS as an Online Casino Payment Method
Speed of transaction – EPS transactions are performed on the basis of the mediator model, so that the funds merely pass through the channel without being transferred from the actual bank account to EPS and then the online casino platform. As a result, payments processed via this service are rather fast, practically instant.
- Safety and security – Due to the specific nature of the service, as explained above, it additionally acts as a layer of protection between the casino and the banking account. Even though EPS casinos tend to comply with all regulatory and security standards, the service itself further benefits their user pool by packing a set of security protocols. Transactions processed via EPS are encrypted and ultimately useless to potential interfering third parties.
- Convenience – Increased use of the EPS service across the top online casino destinations, poker rooms and similar gambling platforms has definitely improved its convenience. However, the service itself had already enjoyed such reputation, considering that users don’t even have to create a separate profile, but simply use their familiar banking log in credentials.
- Supported service – Despite the simple and straightforward procedure of making EPS transactions, users are provided with a responsive and knowledgeable customer support service. They can contact it straight from the service’s official website through any of the provided options.
- Fees policy – When it comes to online casino transactions, there is more than one party tha can impose its own fees to a particular transfer. When it comes to EPS, the service does not charge users for their deposits, which is the most common and widespread transaction form performed using this method. On the other hand, the casino operators themselves, as well as the respective banking institution linked with the service may have a varying policy.
Disadvantages of Using EPS as an Online Casino Payment Method
- Country restrictions – A major disadvantage regarding EPS is the fact that only a limited number of users can benefit from all the perks of the service. After all, only residents of Austria are eligible to apply for the service, in cases when they hold a bank account with one of the partnering institutions. EPS has further spread out their network of banks, yet the country restriction remains.
- Withdrawal availability – Another limitation for EPS online casino players is the fact that not all casino platforms offer it as a withdrawal method. Thus, those that are only eligible to use it to fund their player account will need to come up with a suitable alternative when cashing out their casino winnings.
- Sharing banking details – A final disadvantage for online casino players using EPS to process their transfers is the service’s relation to your regular online banking. While the service itself does not risk sharing any of the information, you would still be required to enter banking credentials and your online banking platform upon each login. While for some, this is an advantageous circumstance, a sign of greater security and reliability, others view it as a potential threat to their information.
1. Which banks have partnered with the EPS online payment processing service?
The EPS service has currently entered into partnership with a number of Austrian banks the likes of Bank Austria, Raiffeisenbank, Bankhaus Carl Spangler & Co. AG, BAWAG, Erste Sparkasse, Gärtnerbank, Hypo Alpe-Adria-Bank International AG, HYPO Investmentbank AG, Hypo Tirol Bank AG, Immo-Bank, Niederösterreichische Landesbank-Hypothekenbank AG, Die Österreichische Volksbanken, Vorarlberger Landes-und Hypothekenbank AG and Investkredit Bank AG, among others.
2. Is the site available in multiple languages?
Yes, anyone interested in visiting the site will be able to use it in its English or German version interchangeably.
3. Which currencies does the EPS service accept for its transaction processing?
EPS has chosen the Euro as the only accepted currency for transaction and bank account funds format.
4. Does EPS share my personal information with the other end of the funds transfer – the online casino?
No, EPS as a service does not even store the users’ banking information, which is precisely why they need to enter them for each login. All funds and information transferred via EPS are completely encrypted and safe from outside interference.
5. What are some suitable alternatives to the EPS online casino banking method?
The EPS banking method is one of the newer, modern online payment processing options. As a result, its most suitable alternatives would be services of a similar kind – e-wallets such as Neteller, Skrill,PayPal, online cards and payment systems – Sofort, PaySafeCard, iDebit and the likes. Those looking to fund their online casino entertainment, or just withdraw from their chosen EPS casino platform can just as freely turn to standard traditional banking methods – credit and debit cards, or even gift cards.