Payment Glossary

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

  • HIPPA (Health Insurance Portability and Accountability Act)

    The Health Insurance Portability and Accountability Act attempts to fight again abuse, fraud and waste within health insurance and general health care delivery.

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  • IVR (Integrated Voice Response)

    Integrated voice response or integrated voice recognition are payment systems that use the telephone to automate the capture of transactional information from a payer. Payers may either...

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