Web6 apr. 2024 · Merchant category codes (MCC) are four-digit numbers used by an issuer of a credit card to categorize the purchases that customers complete using a particular … WebAs referenced above, your merchant category code is assigned to your account as part of the account setup before you process your first transactions. Due to the significant liability of potential fines and suspension of a bank’s processing license for miscoding, most merchant banks outright refuse to change a merchant’s MCC after it’s ...
Merchant Category Code — Global Payment Application …
Web30 sep. 2024 · To get an idea of codes, the following is a list of some common merchant categories by Citi: MCCs 0001–1499: Agricultural Services MCCs 1500–2999: … Web14 feb. 2024 · MCC codes became a requirement for businesses by the Internal Revenue Service (IRS) for tax reporting and accounting purposes in 2004. Merchant category codes distill down specifically to the business type. MCCs 5600 to 5699 are for clothing stores, shoe stores are 5661 and wig and toupee stores are 5698, for example. floor tiles in kenya prices
Merchant Category Code Explained: What it is and Why it Matters
Web29 apr. 2024 · Merchant category codes. Last updated: April 29, 2024. We use the following four-digit ISO 18245 merchant category codes (MCCs) to classify your business. Merchant category code Description; 0742. Veterinary services. 0763. Agricultural co-operatives. 0780. Landscaping and horticultural services. Web2 jun. 2024 · The Merchant Category Code is a four-digit number used to identify the business category of a merchant. Card brands such as Visa, payment processors, and … Web3 apr. 2024 · These are the three ways that you can check a merchant’s MCC: 1. Use Visa’s supplier locator tool. Of the four major U.S. card payment networks, Visa is the only one that has a public ... great railings new jersey