The future of the online casino industry is highly impacted by the banking and payment systems that help facilitate payments and withdrawals. If players have the ability to use the Internet and mobile banking facilities to fund their online casino accounts, it will be an added convenience to these customers. The requirements of the online gambling industry have given birth to different methods of funding online casinos and cashing out online balances. Companies and software developers have forged partnerships with banks in order to provide better payment methods for both customers and online casinos.
A company who heeded this call is STUZZA, a company based in Austria known for developing e-Payments Standard or simply EPS. This payment solution is accessible to Austrian residents with the help of more than 25 financial institutions in Austria. EPS makes it possible for customers and e-commerce sites, including online casinos, to enjoy fast and secure payments.
Technology has brought about so many changes in the way we do business, in the way we go about our daily lives. Advancements and innovations in technology have helped improve payment processing to provide a better experience for e-commerce customers including those who play casinos online. Even larger and more established companies attempt to make changes to their existing products and platforms in order to adapt to the changing times and needs of consumers.
Due to the demand for unique and innovative payment methods and solutions, STUZZA answered this demand by coming up with their first offering, NetPay service, which was later rebranded to EPS. EPS is a joint effort of around 25 banks in Austria together with the government of Austria’s Chief Information Office and Ministry of Finance of Austria.
There are no complicated processes involved in using EPS for casinos. One of the requirements to use EPS is that one should have an account with any of the banks affiliated with the EPS network. You should also look for an online gambling site that allows EPS as the payment method. The good news is that there are many reputable online casinos offer EPS as a payment or funding method. To make a deposit to your preferred online casino, follow these steps:
Take note that the steps may vary depending on the process of each participating bank.
EPS serves as a mediator for transactions between customers and merchants. The funds simply pass through the EPS platform; it won’t be transferred from the bank to EPS to the online merchant. Because of this process, the payment transactions are quick and instant.
There’s no doubt that online payment methods like EPS are hassle-free and convenient. You don’t need to sign up or register to use the service, you only need your Internet banking login details to push through with the deposit transaction.
Safe and Secure: Fund transfers that go through the EPS platform are safe and secure because of the platform’s security protocols. EPS transactions are encrypted thus cannot be intercepted by hackers and malicious third parties.
It is not surprising if payment processors, banks and online casino operators charged users a certain fee for using their platforms and services. There are no fees associated with using EPS, which is really good news for people who want to use their services. Although EPS has no fees, you should still verify with the bank and the online casino for fees involved in transfers and payments.
Although EPS has fairly straightforward policies and processes when it comes to transactions, they still have a dedicated team of customer support representatives to assist you if an issue or problem comes up. The company can be contacted from their official website for any queries and complaints.
One of the biggest disadvantages of using EPS is that the service is only available to Austria residents. This country restriction means that if you’re a U.S. resident, you cannot use EPS as a payment method since EPS has only partnered with banks located in Austria.
The fact that one has to enter personal banking credentials increases the risk of fraudulent activities. Although EPS does not share any of your information to third parties, some people still consider it as a potential threat where their personal details and banking information are concerned.
Another drawback of EPS casinos for online gamblers is the reality that it cannot be used to withdraw funds in some online casinos. So even if you are eligible to deposit money using EPS, you might still need to look for another withdrawal option to redeem your winnings.
If you’re eager to play your favorite online casino games, EPS is a good option because this payment method is extremely to use. EPS is available exclusively to Austrian residents thus it is not a good option for those who are living elsewhere. The good news is that there are similar services in the market that you can utilize such as Citadel, EnterCash, Sofort, and POLi Payments. If you have access to this service, it’s definitely worth giving a try.