eps is an online banking transfer standard jointly operated by Austrian banks, and it is the first method typically considered when targeting Austrian consumers who trust account-based payments. Here are the adoption requirements and settlement structure from the perspective of a domestic merchant.
Austria is a market where, alongside the German-speaking region's distinctive invoice and deferred-payment culture, bank-account-based payment is strong, and eps, the online banking transfer standard, has become the default choice for local e-commerce payments. eps is operated by a joint infrastructure of Austrian banks (PSA) and was rebuilt on a new model from 2023 onward, covering most major banks. Given the large segment of consumers who prefer bank transfers over credit cards, it is a high-priority method for domestic merchants selling to Austrian consumers.
It is especially useful for shops selling higher-ticket categories such as appliances and furniture, or those targeting customers sensitive to card limits and fees, since eps's immediate approval confirmation helps reduce drop-off from unpaid orders. It is common to pair it with invoice-based methods such as Klarna and Riverty to serve customers who prefer deferred payment.
When a consumer selects eps at checkout and specifies their bank, they are taken to that bank's online banking screen, and the transfer is finalized as soon as they log in and approve it through the bank's app or internet banking. Since the approval result is reported to the merchant in real time, digital products can be delivered immediately. The confirmed euro (EUR) payment is received by Hecto Financial and, after currency conversion, settled to the domestic merchant in whichever of USD, KRW, or JPY was chosen at the time of contract.
Through Hecto Financial, a domestic corporation can explore accepting eps without signing an individual contract with an Austrian local payment institution. Because the supported bank list and refund handling for bank transfers differ from those for cards, you need to confirm terms based on your industry and transaction size with the sales team before signing a contract.
※ This section describes the general support process and does not guarantee actual integration eligibility for any specific merchant. Please confirm the exact scope of support and applicable fees through a consultation.
Confirm contract eligibility based on domestic business registration
The integration method and priority vary depending on your online sales channel mix—owned mall, open marketplace, mobile app, and so on
Check in advance whether your products fall under categories restricted by EPS's merchant policy
Confirm compliance with EU payment regulations such as PSD2 and SEPA (see official sources below)
Payments made through eps are received by Hecto Financial in euros (EUR), and after currency conversion, domestic merchants are settled in whichever of USD, KRW, or JPY was chosen at the time of contract. The settlement cycle and the exchange rate basis follow the contract terms. Because eps is a push payment that a consumer cannot unilaterally cancel once the transfer is complete, non-payment risk is low, but under EU consumer protection rules, Austrian consumers can withdraw from most online orders within 14 days, so a separate return and refund process needs to be in place.
Hecto Financial's dedicated team will help you review the right combination of payment methods for the Austrian market.
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