What is eps-Überweisung?

eps is the Austrian banks' pay-by-bank method for online shops. The buyer selects their bank at checkout, logs into online banking and approves the transfer, and the merchant receives an immediate, irrevocable confirmation. PSA processed about 35 million eps payments in 2025.

Payment by bank transfer in Austria

Austria has had a bank-redirect method since 2004. eps-Überweisung, built by the banks and now run by PSA, sends the shopper from the checkout to their own online banking, where the transfer is authorized and confirmed to the merchant in real time with an execution guarantee. Raiffeisen, Erste Bank und Sparkassen, Bank Austria, BAWAG, the Hypo banks and the Volksbanken all take part, and PSA counted about 35 million eps payments in 2025, alongside 1.3 billion clearing transactions for transfers and direct debits. Sofortüberweisung, the other familiar redirect, was folded into Klarna's Pay Now in July 2024.

eps, SEPA Instant and Wero

Since 9 October 2025 every Austrian bank must send as well as receive SEPA Instant transfers at the price of a normal transfer, with a name and IBAN check before each payment. On 22 June 2026 Erste Bank Oesterreich and Raiffeisen became shareholders of the European Payments Initiative to bring Wero to Austria, with no launch date yet. For PSPs, instant payment rails plus eps make Austria a natural pay-by-bank market, and merchants selling there expect eps-Überweisung at checkout.

More detail in our #PayWorldTour guide Payment methods in Austria.