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,...Learn More
MTE (Machine Transfer Entry)
An entry initiated at an electronic terminal, such as an automated teller machine (ATM). This entry can either be a debit or a credit.
MICR (Magnetic Ink Character Recognition)
The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...Learn More