Pay-O-Matic’s Electronic Payment System (EPS) was created to meet the ever-increasing needs of The Pay-O-Matic Corporation to make customer bill payment processing run more smoothly, efficiently and quickly. Along with the founding of the Rapid Armored Division in the 1950s, the EPS Division dates back to Pay-O-Matic’s early days in the financial services industry.

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EPS became licensed as a money transmitter by the Banking Department of the State of New York in 1990 and is widely recognized as a leader in the field of bill payment processing. EPS is also licensed as a money transmitter in the States of New Jersey, and Connecticut. EPS currently serves a wide variety of customer accounts, including utilities, telephone, cable, housing, debit cards, prepaid wireless pins and other prepaid products.


Today, EPS has 100 wholly owned locations, over 650 agent locations and represents 95 per cent of the New York City Metro area bill payment market. EPS processes millions of payments annually.