The Express Payment System, more commonly known as the EPS, is the EFTPOS system originally of the ATM cards of Bank of the Philippine Islands and its subsidiaries, BPI Family Savings Bank and BPI Direct Savings Bank. Today, it is the EFTPOS system of the Expressnet interbank network in the Philippines. The system is the most popular EFTPOS system for ATM cardholders in the Philippines and is accepted nationwide. Rivals of the network include MegaLink's PayLink and the similarly-named BancNet Payment System (BPS). This article or section may be confusing for some readers, and should be edited to be clearer. ... Outdoor ATMs may be free-standing, like this kiosk, or built into the side of banks or other buildings An automatic teller machine, automated teller machine (ATM) or cash machine is an electronic device that allows a banks customers to make cash withdrawals and check their account balances without... Bank of the Philippine Islands or BPI (PSE: BPI) is the oldest bank in the Philippines still in operation and is the second-largest bank in the country in terms of assets, second only to Metrobank. ... Expressnet is an interbank network connecting the ATM networks of seven major banks in the Philippines. ... An interbank network, also known as an ATM consortium or ATM network, is a network that connects the ATMs of different banks and permits these ATMs to interact with the ATM cards of non-native banks. ... MegaLink is an interbank network connecting the ATM networks of twenty-three major banks in the Philippines. ...

Although the Philippines is largely still a cash-based society, the EPS is slowly but surely getting widespread prominence. Since its launch, it has expanded to be found in many stores nationwide and has since expanded from its roots with BPI, which also pioneered Expressnet. In fact, the EPS is no longer limited to shopping: the EPS can also be used for things such as paying doctor's fees or paying for a haircut with the swipe of one's ATM card. Currently, there are more than 8,200 EPS merchants throughout the Philippines. Cash usually refers to money in the form of currency, such as bills or coins. ... ... Bank of the Philippine Islands or BPI (PSE: BPI) is the oldest bank in the Philippines still in operation and is the second-largest bank in the country in terms of assets, second only to Metrobank. ...

In 2005, the EPS expanded to include the ATM cards of Banco de Oro Universal Bank and Land Bank of the Philippines, both Expressnet members. However, many EPS merchants claim that their EPS terminal works only with BPI ATM cards or do not know how to use Banco de Oro or Landbank cards with the EPS terminal; this is because virtually all EPS terminals are BPI terminals (Banco de Oro and Landbank EPS terminals debuted just recently). Also, Banco de Oro and Landbank ATM cards, unlike BPI ATM cards, cannot be directly swiped on an EPS terminal. In order to use these cards, an EPS merchant must enter the number 7 on the main screen then swipe the card to use these ATM cards. As of 2005, HSBC and its subsidiary, HSBC Savings Bank, although both members of Expressnet, do not participate in the EPS system, meaning that HSBC and HSBC Savings Bank ATM cards cannot be used on an EPS terminal. 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Banco de Oro Universal Bank (PSE: BDO ), commonly known as Banco de Oro, BDO, or BDO Unibank to a lesser extent, is one of the largest banks in the Philippines, ranking sixth in terms of assets. ... Land Bank of The Philippines, also known as LBP, is a government owned bank focused on the rural markets. ... HSBC Holdings PLC (匯豐控股有限公司) (NYSE: HBC, LSE: HSBA, HKEx: 005, Euronext: HSBC) is one of the largest banking groups in the world. ...

In addition to functioning as an ATM EFTPOS terminal, EPS terminals also accept BPI credit, debit and prepaid cards. However, these transactions are considered as BPI Express Credit transactions and not as EPS transactions. Credit cards A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. ... A debit card is an ISO 7810 card which physically resembles a credit card, and, like a credit card, is used as an alternative to cash when making purchases. ... A stored-value card represents money on deposit with the issuer, and is similar to a debit card. ...

Banco de Oro has its own terminal independent of the EPS either branded under the SM name or under its own name. Terminals under either name accept all Banco de Oro cards (Smarteller ATM card and derivatives, BDO Gift Card, BDO Cash Card and BDO credit cards) and have the functions of an EPS terminal. Terminals under the SM name, however, have extended capabilities such as having the capabilities of an EPS, PayLink and BPS terminal (and even the ATM cards of non-affiliated banks) all in one as well as the acceptance of other banks' credit, debit and prepaid cards. the SM Prime Logo SM Prime Holdings, Inc. ...

The terminal can be found depending on the name. Terminals under the SM name can be found in all SM stores, such as their supermarkets, department stores and stores such as Surplus Shop and Toy Kingdom. Terminals under the Banco de Oro name can be found in businesses that accept Banco de Oro cards before Banco de Oro joined the EPS. Some merchants though still use the Banco de Oro terminal.

See also

• Bank of the Philippine Islands
• Expressnet

Bank of the Philippine Islands or BPI (PSE: BPI) is the oldest bank in the Philippines still in operation and is the second-largest bank in the country in terms of assets, second only to Metrobank. ... Expressnet is an interbank network connecting the ATM networks of seven major banks in the Philippines. ...

External links

• Express Payment System