Electronic Payment Services (), commonly known as EPS, is an
electronic payment system based in
Hong Kong
Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...
, Macau, and with limited acceptance in
Shenzhen
Shenzhen is a prefecture-level city in the province of Guangdong, China. A Special economic zones of China, special economic zone, it is located on the east bank of the Pearl River (China), Pearl River estuary on the central coast of Guangdong ...
since it began operations in 1985. The service is provided by EPS Company (Hong Kong) Limited which currently has over 30,000 acceptance locations.
System
In each retail location, a terminal is installed and is usually connected to the
POS system of the retailer. The terminal may also be independently connected to banks through the public phone system.
Transactions approved before the cut-off time are batched into a payment made directly to the retailer's account by the end of the business day.
Service
ATM card payment
EPS entails the simple use of an
ATM card
An ATM card is a dedicated payment card card issued by a financial institution (i.e. a bank) which enables a customer to access their financial accounts via its and others' automated teller machines (ATMs) and, in some countries, to make approve ...
or a credit card with ATM capability issued by a member bank of the EPS, acting as a
debit card
A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either ...
. No application for the service is required.
The EPS device is a dual-unit device consisting of a removable card processor and a stationary base that serves as a charger and data link. Some retailers may use an integrated machine. In such situations, the customer inserts the card into the machine directly and waits for the retailer's acknowledgement before proceeding to the rest of the steps.
EasyCash service
EasyCash () allows card holders to withdraw cash at over 1,200 locations in Hong Kong upon a regular purchase by EPS. The cash withdrawal amount must be in units of $100, up to $500. EPS EasyCash service is a kind of
cashback service.
EPS EasyCash service is available at Hong Kong–based chain stores such as Gourmet, Great,
IKEA
IKEA ( , ) is a Multinational corporation, multinational conglomerate (company), conglomerate founded in Sweden that designs and sells , household goods, and various related services.
IKEA is owned and operated by a series of not-for-profit an ...
,
Mannings, MarketPlace, Massimo Dutti,
Circle K, Oliver's,
Parknshop, Taste, ThreeSixty, Vango,
China Resources Vanguard (CRV), V'ole and
Wellcome.
PPS
PPS () is a service which allows card holders to pay bills using the phone or the internet. To use the service, the card holder must swipe the ATM card or the credit card with ATM capability through a PPS terminal to create an account. Afterwards, the account may be used to pay bills either through the PPS hotline, website or the mobile application.
Members
*
Bank of China (Hong Kong) Limited
*
Bank of Communications, HK Branch
*
China Construction Bank (Asia)
China Construction Bank (Asia) Corporation Limited ( Traditional Chinese: 中國建設銀行(亞洲)股份有限公司) is a licensed bank incorporated in Hong Kong.
History
The Bank has over 100 years of history in Hong Kong, when its predecess ...
*
China Merchants Bank Company Limited
*
Chiyu Banking Corporation Limited
*
Chong Hing Bank Limited
*
Citibank (Hong Kong) Limited
*
China CITIC Bank International Limited
*
Dah Sing Bank Limited
*
DBS Bank (Hong Kong) Limited
*
Fubon Bank (Hong Kong) Limited
*
Hang Seng Bank Limited
*
The Hongkong and Shanghai Banking Corporation (HSBC)
*
ICBC (Asia)
*Mevas Bank Limited
*
Nanyang Commercial Bank Limited
*
Shanghai Commercial Bank Limited
*
Standard Chartered Bank (Hong Kong) Limited
*
The Bank of East Asia Limited
*
OCBC Wing Hang Bank Limited
*
CMB Wing Lung Bank Limited
See also
*
Payment by Phone Service (PPS)
*
Octopus card
*
Credit card
*
Economy of Hong Kong
References
External links
Official website
{{Interbank networks
Financial services companies established in 1984
Financial services companies of Hong Kong
Payment systems
Interbank networks