Why Does Toast Put TST on Credit Card Statements?Īs a payment processor, Toast handles digital transactions between customers and businesses. If you see a card reader attached to a tablet or phone, chances are the business is using one of these combined service providers. Some of the well-known ones include Square, Stripe, and Toast. Online payment processors like PayPal and Google Pay offer different ways to pay, even at physical stores where you use a point-of-sale system.īut things get really interesting when you look at companies that offer both point-of-sale systems and payment processing services. You’ve probably heard of other major credit card companies like Mastercard and Amex, but payment processing goes beyond just credit cards. And they’re not the only ones doing this kind of work. Visa’s role is to handle all the behind-the-scenes stuff that makes the payment process work smoothly. That job falls to banks and other financial institutions. Here’s the thing: Visa doesn’t actually issue credit cards. Visa is well-known in the business as one of the top credit card companies, and they also handle the task of moving money from the customer’s account to the company receiving the payment. Think of credit card companies like Visa – they’re a great example of a payment processor. Payment processing involves a third party that helps businesses receive money from their customers. What Is a Payment Processor?Ī point-of-sale system has the option to include a payment processing service, but it’s not something that’s required.īefore we dive in, let’s talk about payment processing in general. The concept encompasses everything tied to the direct transaction between a business and its customers. In fact, if your business has an old credit card imprinter just in case power or internet goes down, that is part of the POS system too. So, even a simple credit card reader constitutes a portion of a POS system. Most businesses today have some way to read a credit card and accept payment from that card. If you have ever seen a card reader attached to a tablet, that is a POS system that is operated through a smart device. They can even be fully automated checkout machines like you see at major retailers and grocery stores.įor many small businesses, POS systems are provided by third parties and run through online smart registers, tablets, or smartphones. More complicated POS systems will utilize electronic devices. In their simplest form, POS systems can just be cash drawers that you use to hold money for the day. The point of sale (POS) describes the time and place where a sale occurred. A POS system is the combination of hardware and software that were used to process the transactions. POS systems come in vast varieties. This means that any phone or tablet that runs on Android can use Toast and become an effective POS device. The company is based out of Boston, and they built their entire system to run natively on Android operating systems. Toast is known for offering cloud-based software solutions for point-of-sale resources and payment processing. Toast is among the leading POS system developers for small and medium businesses. Toast is the company that processed the payment, and its role in the transaction has to be recorded. Epoch on Credit Card Statement: Meaning?į the letters “TST” appear on a credit card statement and are immediately followed by the name of a store or merchant, this is referencing the company called Toast.Buying Online in Different Currency: What Happens?.Buy In Euros Online: American Debit Card?.OnlyFans Need to Add Another Card: Meaning?.Uber or Lyft, No Money on Card: What Happens?.So if you want to learn all about what TST is exactly, why they charge your credit card, and whether TST is safe, then you’re in the right place. Here’s what TST means on a credit card statement:
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |