EPS Financial is moving financial services into the 21 st century, but the company first had to move its new office space there. When the company set up shop in 2010 on the fifth floor of the Alpha Building in downtown Easton, it found an outdated phone system and a single cable line—not the infrastructure needed to support a high-tech company with a digital approach to financial services.
Three years later, the company is up and running on fiber- optic cables and a modern phone system used by a 100-person call center. And it has been taking advantage of a market estimated to grow by leaps and bounds over the next few years: the market for prepaid debit cards.
The early returns have been positive. The company added space on the eighth floor of the Alpha Building and has quadrupled its full-time staff. The call center is staffed three months out of the year, primarily during tax season. That’s when the company supports its chief product, e-Collect.
The e-Collect product allows taxpayers without a bank account to receive direct deposit of their tax refunds in one of two ways: through checks printed in a tax preparer’s office or on prepaid debit cards. Taxpayers can also use the refund to pay their tax preparers. In 2013, the company processed $4.5 billion in refunds.
The company, a division of North Carolina-based Drake Software, also offers a private-label prepaid card service. Customers can create customized programs using prepaid cards, payroll cards and gift cards.
Looking ahead, EPS aims to stay on the cutting edge of prepaid technology, and is prepared to dive into other new payment methods as they emerge. The company also has been supporting initiatives to enhance downtown Easton. Employees volunteer for events such as the Easton Historic House Tour, Heritage Day and Movies at the Mill.