Electronic Payment Services
- Electronic Payment Services
Infobox Interbank Network
name = EPS
易辦事
area = Hong Kong
foundation = 1984
members = 22
POS = Almost 20,000
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.
ystem
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.
ee also
*Payment by Phone Service (PPS)
*Octopus card
*Credit card
External links
* [http://www.eps.com.hk/ Official website]
Wikimedia Foundation.
2010.
Look at other dictionaries:
Electronic Payment Exchange — Headquartered in Wilmington, Delaware and with offices in Phoenix, Arizona, payment processor [http://www.epx.com/index.html Electronic Payment Exchange (EPX)] emerged as a division of a local bank headquartered in Wilmington, Delaware. The… … Wikipedia
Electronic Payment — Elektronisches Geld beziehungsweise E Geld (anfangs auch Computergeld, digitales Geld oder Cybergeld genannt) ist neben dem Zentralbankgeld und dem Buchgeld der Geschäftsbanken die dritte, relativ neue Erscheinungsform des Geldes. Zu… … Deutsch Wikipedia
Payment Services Directive — The Payment Services Directive (PSD) is a regulatory initiative from the European Commission (Directorate General Internal Market) which will regulate payment services and payment service providers (as defined in the Directive) throughout the… … Wikipedia
Malaysian Electronic Payment System — Industry Finance Founded December, 1996 Headquarters Kuala Lumpur, Malaysia … Wikipedia
Electronic commerce — Part of a series on Electronic commerce Online goods and services Streaming media Electronic books … Wikipedia
Electronic bill payment — is a feature of online banking, similar in its effect to a giro, allowing a depositor to send money from his demand account to a creditor or vendor such as a public utility or a department store to be credited against a specific account. The… … Wikipedia
Electronic Check Processing — (ECP) is an electronic payment process designed to accommodate the requirements of various consumer and corporate payment applications without the need for a paper check. For consumers, eCheck processing directly debits consumers bank accounts… … Wikipedia
Payment service provider — A payment service provider (PSP) offers merchants online services for accepting electronic payments by a variety of payment methods including credit card, bank based payments such as direct debit (GlobalCollect), bank transfer, and real time bank … Wikipedia
Payment card industry — The payment card industry (PCI) denotes the debit, credit, pre paid, e purse, ATM, and POS cards and associated businesses.The term is sometimes more specifically used to refer to the Payment Card Industry Security Standards Council, an… … Wikipedia
Electronic Bill Payment & Presentment - EBPP — A process used by companies to collect payments via the internet, direct dial access, ATM or other electronic method. Electronic Bill Payment Presentment (EBPP) is a core component of financial institutions online bank offerings. There are… … Investment dictionary
