T-Commerce
A new concept being tested in Europe which allows shoppers to order certain products or services directly from their televisions.

Terminated Merchant File (TMF)
If a merchant receives excessive chargebacks, they may be stripped of their merchant account and placed in the Terminated Merchant File. All Merchant Service Providers have access to this list and may decline merchant account services to any merchant on the list for several years.

Transaction
Any action between a credit cardholder and a merchant which results in activity on the account, like authorization and settlement. Captures and credits are types of transactions conducted by merchants and financial institutions.

Transaction Fee
A fee charged by a credit card processor or merchant provider for each transaction processed, usually ranging from $.20-.50. This fee is different from the credit card fee or discount rate, and covers the costs of the computers and network required to process the transaction.

Turn-key

In terms of e-commerce a turn-key solution refers to a fully e-commerce enabled web site which is offered to potential merchants as a complete online business solution, complete with shopping cart, web design, hosting, and a merchant account.