What does MSC stand for?
MSC stands for Merchant Service Charge. This is a charge applied by the bank that has acquired the supplier as a VISA merchant. In return, the supplier receives payment within between 2 and 4 working days of the transaction being authorised. In addition to this significant cashflow advantage, suppliers can also reduce credit control costs thereby reducing the need to chase for payment or re-issue invoices. The process also substantially improves the relationship between buyers and sellers. The supplier pays the MSC to its acquiring bank as a percentage of the transaction value. The MSC varies from bank to bank, a competitive environment, and depends on the total amount of business and average transaction values of the supplier. If you would like to find out the full benefits you can achieve by accepting GPC VISA Purchasing, then go to our Benchmarking Tool for Suppliers. Back to the top…
