Effective Rate
Total card fees divided by total card volume — the only processing number worth comparing.
Your effective rate is every processing fee on a statement divided by the total card volume that statement covers, expressed as a percentage. It matters because headline rates exclude assessments, per-item fees, monthly fees and downgrades, so two processors quoting the same rate can cost very different amounts. Work it out from your own statements before comparing vendors, and ask any prospective processor to quote against those statements rather than against a generic profile.
Related terms
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