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Consumer Account
An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.
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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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Payment Gateway
A payment gateway is an application service provider that authorizes credit card, debit card and electronic check payments for businesses. A payment gateway facilitates the transfer of...
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