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MTE (Machine Transfer Entry)
An entry initiated at an electronic terminal, such as an automated teller machine (ATM). This entry can either be a debit or a credit.
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Effective Rate
The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage, and is calculated by dividing gross processing fees by gross sales. Learn More
Related Terms
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WEB (Internet Initiated Entries)
A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.
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