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

  • OCR (Optical Character Recognition)

    A technology that enables you to convert different types of documents into editable and searchable data.

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  • Remote Deposit

    Remote deposit (or remote deposit capture) is the process of converting paper or mailed-in checks to an electronic file for processing.

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