Your total processing fees for a period divided by your total card volume, expressed as a percentage. It is the single best number for comparing processors because it captures every fee — not just the headline rate. You'll find it near the bottom of your statement.
Why it matters for your business
Terms like Effective rate aren't just jargon — they sit behind what you actually pay to accept payments. Understanding them is the difference between reading your statement and being at the mercy of it. If you're not sure how this shows up in your own costs, the fastest way to find out is to have someone read your statement line by line.
See what you're really paying →Related — Pricing & Fees