What Electronic Payment Systems does

Electronic Payment Systems (EPS) is a privately held merchant services provider founded in 1994 by John Dorsey and Tom McCann as ElectCheck Guaranty, headquartered in Centennial, Colorado. Operating as a registered agent of Esquire Bank, NA, EPS processes credit card, debit card, ACH/eCheck, and paper check payments for US-based merchants across retail, e-commerce, and mobile channels. The company serves customers ranging from individual proprietors (flea market vendors, home-party sellers) to small and mid-sized businesses (restaurants, coffee shops, doctors' offices, auto repair, salons) and larger enterprises up to Fortune 1000, with dedicated programs for non-profits, churches/ministries, and veteran-owned businesses under which a portion of processing fees is donated back to the merchant's chosen organization.

EPS's product portfolio is centered on credit card processing for the major networks (Visa, Mastercard, Discover, American Express), supported by EMV/chip card authentication, NFC-based mobile wallet acceptance (Apple Pay, Google Wallet, PayPal), and ACH and eCheck processing with automated recurring billing and invoicing. The company distributes point-of-sale hardware including the Clover product line (Clover Go, Flex, Mini, Mobile, Station) and the Miura M010 hybrid terminal, alongside virtual terminals, payment gateway integrations (Authorize.net, eProcessingNetwork, USAePay), and an open API for CRM and shopping cart integration. Add-on offerings include EZ Payment Plans, Merchant Cash Advance financing, and Loyalty & Gift Cards. EPS maintains 24/7/365 US-based customer service with live call answer, and operates under PCI DSS data-security standards and GDPR privacy compliance.

EPS generates revenue primarily through transaction-based fees (interchange plus markups) on credit card processing, with ACH fees approximately $1.10 per $1,000 versus roughly $19.10 on a $1,000 credit card transaction. Pricing is quote-based, varying by merchant category, transaction type, card network, and volume, with both interchange-plus and tiered structures, free setup, first-month fee waivers (subject to underwriting up to $50K in initial processing), a price match guarantee, and special Small Ticket, seasonal, and merchant-category programs (non-profits, churches, veteran-owned). Distribution combines direct inbound sales, a nationwide network of independent agents and Independent Sales Organizations (ISOs) compensated on commission with lifetime vested residuals, self-serve web onboarding, and payment gateway partner integrations. The company is founder-led, with no disclosed funding rounds, parent company, or institutional investors, and is operationally US-only.

Name

Electronic Payment Systems

Legal name

Electronic Payment Systems, LLC

Website

https://eps-na.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

251–500 employees

Short description

Electronic Payment Systems (EPS), founded in 1994, is a US merchant services provider processing credit card, ACH, eCheck, and check payments for SMBs across retail, e-commerce, mobile, non-profit, and religious verticals, distributing Clover and Miura POS hardware and value-added services.

Ownership category

akta.pro rank

Product category

Merchant Services / Payment Processing

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

Card-Present Acquirers (Retail & POS Focus) (FSAMABAC), Alternative Payment Methods (APMs) & Local Rails (ACH/SEPA/UPI, etc.) (CRAFALAG)

Keywords

• Merchant services
• Credit card processing
• Payment processing
• POS solutions
• ACH processing

Headquarters

HQ city

Englewood

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Supply Chain

Revenue model

1. Credit Card Transaction Processing: EPS earns revenue through interchange fees and markups on credit card transactions processed for merchants. Transaction fees vary by card type (debit vs. credit), transaction method (swiped, dipped, keyed), card network (Visa, Mastercard, Discover), and merchant category. They offer tiered pricing structures.
2. ACH / Electronic Check Processing: ACH processing fees charged per transaction for electronic fund transfers. ACH costs are significantly lower than credit card fees (approximately $1.10 per $1,000 transaction vs. $19.10 for credit cards). Supports recurring billing and automated invoicing.
3. Point-of-Sale Terminal Sales and Leasing: EPS sells and leases payment terminals including EMV-capable countertop devices, mobile card readers, and full POS systems. Terminal costs range from approximately $150 and up for EMV terminals. Clover and Miura products are available for lease or purchase.
4. Payment Gateway Services: EPS works with payment gateways (Authorize.net, eProcessingNetwork, USAePay) for e-commerce merchants. Gateway fees are typically charged per transaction and appear within the transaction rather than separately on the statement.
5. Check Processing Services: Electronic check processing services allowing merchants to accept paper checks electronically. Often offered as a value-add alongside credit card processing, particularly for brick-and-mortar merchants.
6. Seasonal and Specialized Account Programs: Programs for seasonal businesses allowing services to be shut off during off-season periods, and small-ticket programs (Visa/MasterCard Small Ticket programs) with reduced per-transaction fees for merchants with average transaction totals under $15.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Electronic Payment Systems is a U.S. merchant services provider that enables businesses to accept credit card, debit, ACH/eCheck, and paper-check payments across in-store, online, and mobile channels. EPS distributes Clover and Miura point-of-sale terminals for card-present acceptance, integrates with Authorize.net, eProcessingNetwork, and USAePay gateways for card-not-present transactions, and supports EMV chip, NFC/mobile wallet, and recurring billing workflows. Pricing is quote-based and the company underwrites through its registered-agent relationship with Esquire Bank, NA.

Product overview

Electronic Payment Systems (EPS) offers a comprehensive suite of merchant payment processing services designed for businesses of all sizes and types. The core offering consists of credit card processing supporting Visa, Mastercard, Discover, and American Express across retail (brick-and-mortar), e-commerce, and mobile payment channels. Supporting the core payment processing are ACH and eCheck payment systems, chip card (EMV) processing, mobile wallet acceptance, and virtual terminal/gateway solutions. The product portfolio also includes Point-of-Sale hardware solutions through the Clover product line (Clover Go, Flex, Mini, Mobile, Station) and Miura M010 devices, along with add-on services such as EZ Payment Plans, Merchant Cash Advance, and Loyalty & Gift Cards programs. The company positions itself as serving virtually every industry with payment solutions ranging from single-person in-home businesses to Fortune 1000 enterprises.

Differentiator

Problem solved

Functional benefit

Products and services

• Credit Card Processing Core merchant service that enables U.S. businesses to accept Visa, Mastercard, Discover, and American Express credit and debit card payments across retail, e-commerce, and mobile channels with interchange-plus and tiered pricing structures.
• ACH Payment System Electronic fund transfer service over the ACH network for U.S. merchants, featuring automated recurring billing, invoicing, and an open API for CRM and shopping cart integration. Priced at roughly $1.10 per $1,000 transacted, materially lower than card processing.
• Check Processing Service that lets merchants accept paper checks electronically with automated verification, commonly bundled with credit card processing for brick-and-mortar merchants.
• Retail Payment Systems (Brick & Mortar) Payment processing package for businesses with fixed physical locations, bundling countertop terminals, EMV chip readers, NFC/mobile wallet acceptance, and POS integration.
• E-commerce Payment Solutions Card-not-present payment processing for U.S. online merchants and subscription businesses, integrating with Authorize.net, eProcessingNetwork, and USAePay gateways and supporting the Open API for shopping cart and CRM integration. Sold without requiring countertop hardware.
• Mobile Credit Card Processing Portable payment acceptance package for U.S. mobile businesses (tradespeople, mobile pet services, food trucks, event vendors, home-party sellers) using Bluetooth- and cellular-connected mobile card readers.
• Clover POS Product Line Full Clover hardware family distributed by EPS including Clover Go (smartphone swiper/dipper/tapper), Clover Flex (handheld with built-in printer/scanner), Clover Mini (touchscreen countertop), Clover Mobile (for food trucks/festivals), and Clover Station (full POS), all supporting EMV, NFC, Apple Pay, gift cards, and real-time sales tracking.
• Miura M010 Point-of-Sale Platform Hybrid POS device that operates both as a countertop terminal and mobile payment solution, certified to PCI PTS 3.0 and SRED with contact and contactless EMV acceptance plus Bluetooth, Wi-Fi, and USB connectivity.

Quantifiable outcome

• ACH transaction cost approximately $1.10 per $1,000 vs. $19.10 for credit card transactions (at 1.9% + $0.10)
• +1 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Clover (Fiserv)coreTechnology or Integration · 1 January 2017EPS partnered with Clover (a Fiserv product) to offer Clover POS hardware (Clover Go, Flex, Mini, Mobile, Station) to new and existing merchants. Clover's advanced mobile payment technology is combined with EPS's secure payment processing into a seamless experience. Products available for lease or purchase through EPS.
• Authorize.netcoreTechnology or IntegrationAuthorize.net is a payment gateway that EPS works with for e-commerce merchants. The gateway handles the complex infrastructure and security necessary to ensure fast, reliable, and secure transmission of transaction data from online merchants through to EPS's processing systems.
• eProcessingNetworkcoreTechnology or IntegrationeProcessingNetwork is a payment gateway partner integrated with EPS's processing platform for e-commerce merchants, providing secure online transaction authorization and processing infrastructure.
• USAePaycoreTechnology or IntegrationUSAePay is a payment gateway partner used by EPS's e-commerce merchants to handle card-not-present transaction authorization and routing through to EPS's processing network.
• Miura SystemscoreTechnology or IntegrationEPS offers the Miura M010 point-of-sale platform — a hybrid device that functions as both a countertop terminal and mobile payment solution. The M010 supports contact and contactless (EMV, NFC) transactions, integrates with tablet POS systems, and is PCI PTS 3.0 certified.
• Airpower FoundationminorGTM or Marketing PartnerEPS is the official credit card processor and sponsor of the Airpower Foundation and the American Airlines Sky Ball. EPS founder John Dorsey developed 'Every Credit Card Counts' and 'Merchants with a Mission' campaigns that focus on churches and non-profits. Sky Ball raised a record $3.6 million for military service members and their families.
• MastercardcoreStrategic or Co-development PartnerEPS processes Mastercard transactions and is subject to Mastercard's rules, interchange fee schedules, and compliance requirements. As a processor, EPS must comply with Mastercard's standards for data security (PCI DSS), transaction processing, and merchant monitoring.
• VisacoreStrategic or Co-development PartnerEPS processes Visa transactions and operates under Visa's rules, interchange fee schedules (published twice yearly), and compliance requirements. Visa's liability shift for non-EMV-compliant merchants is a key driver for merchants to adopt chip card terminals.
• DiscovercoreStrategic or Co-development PartnerEPS processes Discover card transactions. Merchants can accept Discover cards through their EPS merchant account, subject to Discover's fee structures and compliance requirements.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Stripe: Stripe is a major payment processor serving online and increasingly in-person SMBs. While initially card-not-present focused, its Terminal hardware and competitive pricing directly pressure EPS's e-commerce and mobile merchant business.
• PayPal: PayPal provides merchant payment processing for SMBs across online, in-store (Zettle), and mobile channels. It directly overlaps EPS's card-present, mobile wallet, and e-commerce offerings, especially among smaller US businesses.
• Helcim: Helcim is a Canadian-headquartered merchant acquirer expanding into the US SMB market with transparent, interchange-plus pricing and integrated POS software. It represents a newer, tech-led direct competitor pursuing the same transparency positioning EPS emphasizes.
• Dharma Merchant Services: Dharma is a US SMB-focused merchant acquirer emphasizing transparent pricing, no hidden fees, and personalized service — a value proposition nearly identical to EPS's stated differentiation around transparency and customer-first philosophy.
• Payment Depot: Payment Depot is a US SMB merchant acquirer offering membership-based interchange-plus pricing. Its transparent, low-fee positioning and direct-to-merchant sales model closely parallel EPS's value proposition.
• Square (Block): Square is a leading SMB-focused payment processor offering card-present, card-not-present, and POS hardware. It competes head-on with EPS for the same small and mid-sized US merchants and represents the dominant tech-native alternative to ISO-style sales-led acquiring.
• North American Bancard: North American Bancard is a privately held, ISO-driven US merchant acquirer serving SMBs with credit card processing, POS, and cash advance products. Its sales-led, agent-channel GTM and SMB focus make it the closest direct comparable to EPS.

Broad incumbents

• FIS: FIS is a global financial technology incumbent offering merchant acquiring, POS, and payment processing at scale. While its SMB portfolio overlaps with EPS, FIS's broader enterprise and banking focus places it as an incumbent competitor and potential partner for ISO-style channels.
• Heartland Payment Systems (Global Payments): Heartland, part of Global Payments, is a major US merchant acquirer and POS provider serving SMBs and enterprises. It overlaps with EPS in credit card processing, POS hardware, and ISO/channel distribution at a much larger scale.
• Clover (Fiserv): Clover is a Fiserv-owned SMB POS platform that EPS resells. As a fintech incumbent, Clover competes with EPS not only as a hardware/software provider but increasingly as a vertically integrated processor targeting the same merchant base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/eps_na
• Facebookfacebook.com/electronic.payment.systems
• LinkedInlinkedin.com/company/electronic-payment-systems

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Electronic Payment Systems