It refers to the additional charges that get added to the cost of any product or service. It is an extra charge on a payment for specific goods or services. There is a specified reason to add these changes like a raise in the tax or cost of the product. In terms of managing a payment system, a surcharge is also known as a checkout fee. Another example of such type of charges is additional change that gets at the time paying through cheque, charge cards, or credit cards. It is a payment imposed by a third party like a bank or credit card company.
