Knowing the lay of the land will help you better identify how to get the best processing solution. Once you're done reading this article, check out our more detailed breakdown of where credit card processing fees come from. For now, let's dive in to how credit card processing works. The bankcard networks that ferry billions of transactions ...

Often shortened from “interchange reimbursement fees,” interchange refers to a set of categories that are used to determine the rates for individual card transactions. Every category has requirements for eligibility and a rate associated. Those rates change at the card brands' discretion, typically twice a year. Interchange can be a complex topi...

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. Basics of Effective Rate and Processing Fees Varying int...