What does TSC mean in ACCOUNTING
Transaction Service Charge (TSC) is a fee associated with processing certain types of electronic payment transactions. The TSC is charged to merchants who accept various types of electronic payments such as debit and credit cards. This fee is typically passed on to consumers as part of their overall purchase cost.
TSC meaning in Accounting in Business
TSC mostly used in an acronym Accounting in Category Business that means Transaction Service Charge
Shorthand: TSC,
Full Form: Transaction Service Charge
For more information of "Transaction Service Charge", see the section below.
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Essential Questions and Answers on Transaction Service Charge in "BUSINESS»ACCOUNTING"
What is Transaction Service Charge?
Transaction Service Charge (TSC) is a fee associated with processing certain types of electronic payment transactions.
Who is charged the TSC?
The TSC is typically charged to merchants who accept various types of electronic payments such as debit and credit cards.
Is the TSC ever passed on to customers?
Yes, the TSC is often passed on to consumers as part of their overall purchase cost.
Are there any exceptions when it comes to charging a TSC?
Some payment processors may waive or reduce fees for certain merchants, depending on their business size or revenue level.
Does the TSC vary from processor to processor?
Yes, different payment processors may charge different rates for the same type of transaction service charge.
Final Words:
In summary, Transaction Service Charge (TSC) is a fee associated with processing certain types of electronic payments such as debit and credit cards. This fee can be passed on from merchants to customers and varies from one processor to another. Consumers should check with their payment processor before making any purchases in order to get an estimate of the potential additional charges involved in a transaction service charge.
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