The best means to gain a bird’s eye view on your processing costs is to calculate an Effective Rate. To do so, simply divide the total fees charged by the total sales volume. Ie. $2000 / $100,000 = 2.00%. While your average ticket will factor into the Effective Rate, this calculation is a quick and easy means to ensure you are not paying to much for credit card processing. An Effective Rate in the range of 2- 2.50% is a good metric to consider.
To learn more, please call 281-719-0769 or send us a message.