For businesses searching for a new merchant account without actual processing data, the effective rate should be interpreted as a general indicator of cost-effectiveness — not as a precise measurement. However, it is still extremely important in determining the best processing solution. Varying interchange fees make predicting the exact total cost of a merchant account quote…
For businesses that already accept credit cards and have actual processing data, the effective rate can be interpreted as an exact measure of the competitiveness of the current processing solution.
