7399 Mcc Code . Merchant Identification Number Lookup . We have listed a few of these resources below: Ben Dwyer began his career in the processing industry in 2003 on the sales floor for a Connecticut‐based processor. Home About Mastercard Careers ... Merchants; Safety & Security; Mastercard SecureCode; Mastercard SecureCode Vendor List; SUPPORT. We will discuss the finer points of MCCs below. What is a merchant category code? MCCs are now utilized by several parties. A merchant category code (MCC) is a four-digit number assigned to a business by an acquiring bank or institution when the business opens a merchant account to begin accepting Visa or MasterCard as a form of payment. the rewards will only be calculated for purchases made at businesses with relevant merchant category codes. Below we have compiled a list of typical categories which acquirers and payment providers treat as high risk, imposing stricter approval terms and higher processing fees. We use the following four-digit ISO 18245 merchant category codes (MCCs) to classify your business. However, MasterCard uses an additional transaction category code (TCC) to further identify general business categories. "Every merchant is classified under a certain merchant category code," says Suneera Madhani, founder and CEO of Fattmerchant, a payment technology platform, "which tells the card companies what kind of service is being charged to the card." Perhaps the easiest way to explain MCC codes is to compare these with grocery store PLU codes, or price lookups. This is not an exhaustive list of merchants operating in Canada that are classified with the MCC 5411. The merchant will be designated the four-digit code once he starts to accept payments by credit card. MasterCard’s TCC codes are as follows: MCC Codes (or merchant category codes) are assigned to merchant accounts during the set up process and are used to differentiate between types of business & industries. It is important to note that while credit card issuing banks (like DBS, OCBC, UOB, Standard Chartered, etc) design the credit card rewards, they do not control the MCCs. Browse our list of SecureCode Mastercard technology vendors. Skip to Content. But, we got you fam. Merchant Category Codes (MCC) are 4 digit numbers used by the payments industry to classify businesses by market segment. As the blog gained in popularity, Ben began directly assisting merchants in their search for a processor. The codes, their meanings and classifcation are set by the International Organization for Standardization (ISO). You can find a full list of merchant category codes provided by the IRS here. Major airlines and hotels each have their own MCC code. A quick Mastercard merchant category code lookup will also find you a list of Mastercard MCCs pretty easily. Home About Mastercard Careers ... Merchants; Safety & Security; Mastercard SecureCode; Mastercard SecureCode Vendor List; SUPPORT. 0780. In the event of any discrepancy between the documents found at this Web site and those rules and standards Mastercard deems to be the official rules and standards, the official rules and standards will apply. I’ll discuss this further in the section “Why are merchant category codes important?”, below. OTHER INFORMATION. 0763. COMPANY. Download for more details. How To Find Your Merchant Category Code . Merchant Category Codes are four-digit numbers assigned by the acquiring bank to merchants based on the type of product or service they provide. Your email address will not be published. This is Financial Institution – Merchandise & Services which matches Visa’s MCC of 6012. The number will be designated by Visa, MasterCard, or by any other credit card provider that the merchant has chosen to work with. A merchant category code is a four-digit number used by credit card companies to classify businesses into market segments. However, it’s important to ensure that your business is correctly classified both for reporting purposes and to ensure it does not lose out on potentially lower rates. FOLLOW US. MCC codes are used by issuing bank to determine if they will except the transaction. Skip to Content. MCC Codes: MERCHANT TYPE: 4814: Fax services: 4814: Telecommunication service … Merchant category codes are four-digit numbers that payment networks such as Visa and Mastercard assign to individual businesses. Start accepting Mastercard to help make your business boom. Frequently Asked Questions In Canada call 1-800-307-7309 Global Emergency Contacts Tweet Us @MastercardCA About Mastercard … Visa Merchant Codes. Keep in mind that each card network –that is, Visa, Mastercard, Discover, and American Express — each have their own lists of MCCs, and while they are largely similar, there might be some specific differences for certain types of business. Merchant category codes were originally created to simplify 1099 reporting for commercial cardholders. MCCs can vary by processor, but there are some common trends. MasterCard Merchant Category Codes. Merchant category codes have been used to classify businesses by specific market segments since the Internal Revenue Service published IRS Revenue Procedure 2004-43 in Internal Revenue Bulletin 2004-31. … Now Used for Much More. A Merchant Category Code (MCC) is a four-digit number used to classify and categorize merchants based on the merchant’s business activities and products or services being sold. American Express Merchant Category Codes. Mastercard Country Code List. An MCC is used to classify a business by the types of goods or services it provides. Credit card processors, however, are the ones responsible for assigning each of the codes to a business or merchant… Bank Of America Mcc Codes. Merchant Category Code List Excel . 7399 Mcc Code . The following modules help explain our Global Compliance Programs and how they help us achieve this goal: Security Rules and Procedures – Merchant Edition, Setting a Minimum or Maximum Transaction Amount, Quick Reference Booklet - Merchant Edition, Business Risk Assessment and Mitigation (BRAM), Questionable Merchant Audit Program (QMAP), Member Alert to Control High-Risk Merchants (MATCH). Mastercard Merchant Category Codes Pdf OTHER INFORMATION. This is why it is important for you to know the qualifying merchants for your credit card and their respective merchant category code (MCC). COMPANY. Merchant Category Code List Excel . You also should be aware that Mastercard rules and other standards change from time to time. There’s a lot to see on that page, so simply use ‘ctrl/cmd + F’ and type in ‘merchant’ to get to what you’re looking for. That’ll bring you directly to the relevant sections of the merchant category code listing. not a PDF). This is why it is important for you to know the qualifying merchants for your credit card and their respective merchant category code (MCC). And that success is better assured if you have access to and understand the Mastercard … Mastercard solutions help merchants to increase revenue, enable new sales channels, create better purchase experiences, … It is another four-digit code, but this one is assigned to merchants through credit card companies (VISA, MasterCard, etc.) With MCC classification in place, cardholders can now reference the MCC of the business where a purchase was made to determine whether the purchase must be reported to the IRS. You can find a full list of merchant category codes provided by the IRS here. Merchant category codes. FOLLOW US. The same data is available in several formats: 1. csv 2. small json - no whitespace characters 3. formatted json - indented for legibility 4. ods (LibreOffice and OpenOffice.org compatible) 5. xls (Microsoft Office & useful with many other systems that can read xls) LANDSCAPE AND HORTICULTURAL SERVICES. Here's what MCCs are, how they work and why they matter. Mastercard Mcc Codes And Definitions . mcc merchant type 3038 kuwait airlines 3039 avianca 3040 gulf air (bahrain) 3041 balkan-bulgarian airlines 3042 finnair 3043 aer lingus 3044 air lanka 3045 nigeria airways 3046 cruzeiro do sul (brazij) 3047 thy (turkey) 3048 royal air maroc 3049 tunis air 3050 icelandair 3051 austrian airlines 3052 lanchile 3053 aviaco (spain) That means that the costs you pay for credit card processing are partly influenced by your MCC. … A public repository of Merchant Category Codes (MCC) in formats easier to read than most places (i.e. The Wikipedia Merchant Category Code page has some information and links to other sites; The IRS maintains a list but it lacks specific codes for many values in the 3000 range (this can be seen as a benefit in some ways, but for a database lookup table that's a problem). We aim to preserve the integrity of the payment system, which is why we work proactively and collaboratively with our customers to grow business while minimizing risk. Merchant category codes are four-digit numbers that credit card networks —like Visa, Mastercard, American Express and Discover—mainly use to classify businesses in … There are quite a few merchant category codes, as seen in this snippet from the IRS list: There are several uses for MCC’s these days. Read more about taking credit cards at a medical practice. MCCs are now utilized by several parties. Mastercard rules, standards & compliance programs for the merchants, processors & customers promote reliable, flexible & secure commerce. MCC stands for a Merchant Category Code, a four-digit number identifying the business classification depending on what type of products or services are provided by the merchant company. When a card offers rewards on a changing set of categories (like 5% on groceries one quarter, 5% on restaurants the next, etc.) You’re probably familiar with the stickers on various fruits and vegetables. For example, a payment made to a business classified as MCC 4816 “Computer Network Services” would be reportable because the business provides a service, whereas a payment made to a business classified as MCC 5734 “Computer Software Stores” would not be reportable because the business sells a product. However, MasterCard uses an additional transaction category code (TCC) to further identify general business categories. List of merchant category codes. Your business must be classified with the correct MCC. Merchant Category Codes are four-digit numbers assigned by the acquiring bank to merchants based on the type of product or service they provide. His dedication to transparency and education has made CardFellow a staunch small business advocate in the credit card processing industry. A Merchant Category Code (MCC) is a four-digit number listed in ISO 18245 for retail financial services. For example, a veterinary clinic would be assigned a merchant category code of 0742 for “Veterinary Services.”. Since 2004, merchant category codes have come to be utilized for more than simplifying 1099 reporting. Visa Merchant Codes. Here’s a detailed list of Merchant Category Codes (MCC). While we always strive to keep the documents on this Web site up to date, it's possible that they will not always be absolutely current in all regards. Merchant category codes were developed by the IRS in 2004 as a way to streamline 1099 reporting for commercial card holders. For example, a business classified as 5411 “Grocery Stores, Supermarkets,” 8211 “Elementary and Secondary Schools,” or 6300 “Insurance Sales and Underwriting” will qualify for lower than typical interchange categories. Feel free to download the official Mastercard Rules and other important documents below. Additionally, on the consumer side, credit card rewards points are sometimes calculated by MCC. Bank Of America Mcc Codes. A Merchant Category Code (MCC) is a four-digit number used to classify and categorize merchants based on the merchant’s business activities and products or services being sold. Keep in mind that each card network –that is, Visa, Mastercard, Discover, and American Express — each have their own lists of MCCs, and while they are largely similar, there might be some specific differences for certain types of business. No. Merchant Category Code, or MCC, is a four-digit merchant classification code that identifies the merchant by their business line. Visa Merchant Supplies . Each industry has different transaction patterns and differing levels of risk (potential for fraud). MasterCard uses the same merchant category codes referenced by the IRS and other payment brands such as Visa, Discover and American Express. MCC Description Valid Payment Brand(s) 5712 Equipment, Furniture and Home Furnishings Stores (except Appliances) V, M 5713 Floor Covering Stores V, M Can I get set up with a different MCC to get lower rates? Frequently Asked Questions If you need to report a lost or stolen card or have any other questions regarding your Mastercard, please call 1-636 … Frequently Asked Questions In Canada call 1-800-307-7309 Global Emergency Contacts Tweet Us @MastercardCA About Mastercard Careers … There are situations where two or more MCCs might apply to one business, such as a restaurant that also has a sit-down bar. MCC MCC Title & Description Risk Level. The IRS requires businesses to report payments made for services on a year-end 1099 form, but it does not require the purchase of goods to be reported. 9312-9388 Reserved for private use 9389-9398 Reserved for national use 9399 Government services — not elsewhere classified 9400-9401 Reserved for national use 9402 Postal services — government only 9403-9999 Other 9403-9499 Reserved for private use 9500-9699 Reserved for ISO use 9700-9799 Reserved for private use 9800-9999 Reserved for national use Merchant category codes (MCCs), or merchant classification codes, are a four-digit identifier that describes the type of goods or services a business provides. And that success is better assured if you have access to and understand the Mastercard rules and how they may apply to your business. Find your business MCC by entering your MCC number, your business vertical, or by simply clicking the red “high-risk” tab to see if your vertical comes up. 7623 A/C, Refrigeration RepairNot considered high-risk. The number represents the type of business or service the company offers. A public repository of Merchant Category Codes (MCC) in formats easier to read than most places (i.e. Interchange fees are important because they are collected by banks that issue credit and debit cards, and they account for the vast majority of a business’ credit card processing expense. Ben believes in empowering businesses by providing access to fair, competitive pricing, accurate information, and continued support. It allows the credit card companies to classify what types of goods or services the merchant sells, and how that may affect interchange rates. After all, you would not want to make a big-ticket purchase, only to find that it does not qualify for credit card rewards. In those cases, factors like which aspect of the business accounts for more of your total sales will be taken into account, meaning your restaurant could be classed as a bar or vice-versa. Frequently Asked Questions If you need to report a lost or stolen card or have any other questions regarding your Mastercard… It is similar to a Standard Industrial Classification (SIC) code, but it is broader in scope. 3412 A-1 RENT-A-CARNot considered high-risk. taking credit cards at a medical practice, Merchant Category Codes for IRS Form 1099-MISC Reporting, Acquiring Bank — Where the Money Comes From, Credit Card Processing Companies: A Who’s Who, Unique Transaction Quasi-Cash Disbursement, Airline, Railroad, Travel Agency/Transportation. Home About Mastercard Careers ... Merchants; Safety & Security; Mastercard SecureCode; Mastercard SecureCode Vendor List; SUPPORT. Merchant Category Codes | General Merchant Category Codes MCCs 5700–7299 (Miscellaneous Stores) The following table includes a list of MCCs in the range 5700–7299 and the description for each code. • Merchant category code (MCC) Merchant data must be the same as, or consistent with, comparable data throughout a transaction’s life cycle and on the transaction receipt. Le Merchant Category Code ou code MCC, est utilisé en monétique lors du transport d'une transaction de paiement ou de retrait réalisée avec une carte bancaire pour indiquer le type d'activité du commerçant à l'origine d'une opération.. En France, le code "NAF" est utilisé par équivalence. Mastercard Mcc Codes And Definitions . 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 Assignment of MCCs. Cards; Additional products; Customer Support; Digital; FR Login Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees. At WePay, we use a similar code to help us better understand your business. 1520. Some processing companies can’t offer services to businesses with certain MCCs, and some options like charging convenience fees are only available to businesses with particular MCCs. COMPANY. Your MCC code is something that usually exists quietly behind the scenes once your business gets going. Le Merchant Category Code ou code MCC, est utilisé en monétique lors du transport d'une transaction de paiement ou de retrait réalisée avec une carte bancaire pour indiquer le type d'activité du commerçant à l'origine d'une opération.. En France, le code "NAF" est utilisé par équivalence. Merchant Category Code List Excel . Merchant Code Lookup . Your MCC code is something that usually exists quietly behind the scenes once your business gets going. Mastercard Category Code. MCC stands for a Merchant Category Code, a four-digit number identifying the business classification depending on what type of products or services are provided by the merchant company. MCC Codes For Visa/Mastercard (pdf) | Visa (pdf) | Mastercard (pfd) The document comes from Citibank based on how they code it in conjunction with Visa and Mastercard. Mastercard Merchant Category Codes Pdf An MCC is used to classify a business by the types of goods or services it provides. An MCC is four-digit number the major credit card networks (Visa, Discover, American Express and Mastercard) assign to each business that applies to accept credit cards. There’s a lot to see on that page, so simply use ‘ctrl/cmd + F’ and type in ‘merchant’ to get to what you’re looking for. Canadian Tire Bank ® Toggle navigation. As a Mastercard processor or merchant, you are vital to our success. An MCC is four-digit number the major credit card networks (Visa, Discover, American Express and Mastercard) assign to each business that applies to accept credit cards. However, if you’re paying too much for credit card processing, you can easily see if you’re eligible for lower costs by using this free quote comparison tool. As he learned more about the inner‐workings of the industry, rampant unethical practices, and lack of assistance available to businesses, he cut ties with his employer and started a blog where he could post accurate information about credit card processing. Become a Mastercard ® merchant Whether you own a service business, operate an online store or are a retailer with multiple locations, accepting electronic payments can help you grow and manage your business. Skip to Content. Mastercard's merchant services helps boost your revenue by accepting payments online, in app or in person - with simplicity, security & speed. And that success is better assured if you have access to and understand the Mastercard … COMPANY. Merchant Category Code (“MCC”) 5411, based on RBC MasterCard purchase data as of May 2011. American Express Merchant Category Codes. But, we got you fam. Download for more details. This is not an exhaustive list of merchants operating in Canada that are classified with the MCC 5411. • Merchant category code (MCC) Merchant data must be the same as, or consistent with, comparable data throughout a transaction’s life cycle and on the transaction receipt. MasterCard uses the same merchant category codes referenced by the IRS and other payment brands such as Visa, Discover and American Express. What is a merchant category code? Rules impacting processors and merchants. Credit card processors, however, are the ones responsible for assigning each of the codes to a business or merchant. Browse our list of SecureCode Mastercard technology vendors. Skip to Content. Originally created in 2004 to streamline 1099 reporting, merchant category codes are now used for a number of different purposes. Mastercard rules, standards & compliance programs for the merchants, processors & customers promote reliable, flexible & secure commerce. Rewards cards use Merchant Category Codes, or MMCs, to define purchase streams eligible for rewards earnings. Merchant category codes were developed by the IRS in 2004 as a way to streamline 1099 reporting for commercial card holders. That’ll bring you directly to the relevant sections of the merchant category code listing. It wouldn’t be possible for your restaurant to be classed as a supermarket to take advantage of lower grocery interchange rates.

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