Electronic Payment System V1.0 And EPS's Application

EPS (Electronic Payment System) v1.0 is an advanced electronic commercial payment platform. It provides the tool for merchants from various areas and industries. This system has many functions such as on-line fund payment, settlement, inquiry, and statistics, etc. It is a network bridge connecting consumers, merchants and financial organs. The appearance of EPS vl.O leads to that transactions between merchants and consumers, by using different types of domestic or foreign bankcard, become possible. Through the settlement way of EPS vl.O, merchants and consumers can shorten the cycle of transactions, reduce payment links, and enhance efficiency. Furthermore, we can bring wider prospects for development to merchants and companies through this system.EPS vl.O has characters such as safe, reliable, fast, big capacity, convenient, and easier to extend, etc. It can bring consumers a safe and convenient payment platform for shopping on-line. It also can support merchants to develop electronic business and other kinds of incremental services such as B2B, B2C transactions. This can make the process, from purchase to payment, more integrated. Moreover, it can improve the economical benefit of Internet electronic commerce through integrated payment functions. At the same time, under the powerful background of Chinese market, as an on-line payment platform,EPS cooperates with many domestic commercial banks and international bankcard issuers such as VISA, Master Card. It sets up a bridge between foreign merchants and Chinese consumers. Consequently it becomes a golden key for foreign merchants to make a connection to domestic market, and for domestic merchants, to the international market.