Calculating Your Effective Rate

MPACT loves helping our clients.  Informative articles like this allow us to not only provide knowledge to our clients, but also connect with them on how to improve areas of concern.

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Calculating Your Effective Rate

Calculating Your Effective Rate

MPACT loves helping our clients.  Informative articles like this allow us to not only provide knowledge to our clients, but also connect with them on how to improve areas of concern.

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1. Determine total fees and deductions you were charged from your most recent processing statement
2. Divide this number by the total volume of card sales (exclude Amex*)
3. If greater than .02, call Merchant’s PACT

*Most merchants are billed separately for Amex transactions.
Effective rates for most merchants should average between 1.70% and 2.1%; depending upon your average ticket, card mix, and monthly volume. If your effective rate exceeds 2% ( or .02 based on the calculation above) you are likely paying too much! Please contact us today!

1. Determine total fees and deductions you were charged from your most recent processing statement
2. Divide this number by the total volume of card sales (exclude Amex*)
3. If greater than .02, call Merchant’s PACT

*Most merchants are billed separately for Amex transactions.
Effective rates for most merchants should average between 1.70% and 2.1%; depending upon your average ticket, card mix, and monthly volume. If your effective rate exceeds 2% ( or .02 based on the calculation above) you are likely paying too much! Please contact us today!

Start Working With MPACT

Start Working With MPACT

Work with MPACT today to see how we can help your financial institution grow!  Or, schedule your FREE demo now to see how we can help you get started.

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