EPS (Electronic Payment System) is an online payment method that’s popular with merchants. It works via direct debit from a consumer's bank account. When they pay with EPS at your cash register or website, they're authorizing the transfer of funds from their account to yours.

EPS is accepted at more than 100,000 locations in 109 countries throughout Europe, Asia, and North America. About 100 million people use EPS worldwide each year to make purchases on their phones or computers—and many more do so by visiting brick-and-mortar stores like McDonalds or Target.

EPS charges merchants a small fee each time they accept payments through their register terminals or website checkout process. Consumers also pay a small fee when performing an EPS transaction (usually around 1% of the total purchase price).

EPS is associated with the customer’s bank account, so when they use it to pay for something online, the money comes directly out of their bank account and goes into the merchant's account. Since EPS is connected directly to the bank account, it's 100% secure—the same way that other electronic payments work (like debit cards). 

There are two ways consumers can use EPS:

-When they're at the checkout line, they can enter their credit card information into the EPS system and get a text message with a link to complete the transaction. They'll then be prompted to enter their PIN number on their phone, and the transaction will be complete.

-They can also set up an auto-pay feature for recurring purchases by linking their credit card information to EPS, which means that whenever their bill comes due, EPS will automatically charge it.