How do I find a merchant category code?

How do I find a merchant category code?

You can find the MCC for different purchases/stores on your credit card statement, so your best bet is to go back into your statement and see exactly how the merchant description is coded so you know for future reference.

What is a merchant category group?

Merchant Category Code Group (MCCG) means a defined category of business designations used to control cardholder purchases from particular types of businesses.

What is a MCC entry?

Merchant category codes (MCCs) are four-digit numbers that describe a merchant’s primary business activities. MCCs are used by credit card issuers to identify the type of business in which a merchant is engaged. MCCs are used to track spending habits and to allot credit card points for qualified purchases.

What are MCC codes used for?

MCCs are used to identify the type of business in which a merchant is engaged. Payment brands use merchant category codes (MCCs) to classify merchants and businesses by the type of goods or services provided. Payment brands, issuers and acquirers can use MCCs to categorize, track and restrict transactions.

What does MCC stand for in code?

Merchant category codes (MCC) are four-digit numbers that a credit card issuer uses to categorize the transactions consumers complete using a particular card. Moreover, they determine the percentage of each transaction a business needs to pay to the credit card processor.

What does the MCC code mean?

Merchant category code (MCC) Every transaction processed by the card networks (such as Visa and MasterCard) is assigned a merchant category code (MCC), a four-digit number that denotes the type of business providing a service or selling merchandise. MCCs are used by card issuers to categorize, track or restrict certain types of purchases.

What are merchant category codes?

Here are some common merchant categories, provided by Citi: Agricultural services: MCCs 0001-1499 Contracted services: MCCs 1500-2999 Transportation services: MCCs 4000-4799 Utility services: MCCs 4800-4999 Retail outlet services: MCCs 5000-5599 Clothing stores: MCCs 5600-5699 Miscellaneous stores: MCCs 5700-7299 Business services: MCCs 7300-7999 Professional services and membership organizations: MCCs 8000-8999

What is a merchant category code (MCC)?

What Is An MCC Code? A Merchant Category Code, or MCC, is a four-digit number that indicates your line of business and the types of goods or services you provide to your customers. Originally developed to simplify accounting for the year-end 1099 tax form reporting, the MCC code is now a critical piece in the payments landscape.