Established by the United States government in 1937, Standard Industrial Classification codes, or SIC codes, identify specific industries using four-digit numbers. Merchant Category Codes (MCCs) are used to identify the type of business in which a merchant is engaged. Most of the time MCC identifies a business correctly but there are always some outliers, especially when it comes to small businesses. They were mandated by the Internal Revenue Service in 2004 to facilitate tax reporting. List of High Risk Categories. 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. Reviewed by. a: 0763. agricultural cooperatives: a. American Express: 2.3% - 3.5%. Merchant Category Codes and Rewards Cards. Credit card purchases are categorized by these codes. The IRS publishes a complete list of MCCs on their website , though slight variations may exist from network to network. The MCC is used to define types of business & industries. Disclaimer: This list is for reference only. Here are the average credit card processing fees for the 4 major credit card networks: Visa: 1.4% - 2.5%. 0780: landscape and horticultural services. For American Express, the MCC is supplied on the credit card statement for each transaction. A merchant category code (MCC) is a four-digit number which indicates the market a specific business belongs to. Updated October 27, 2021. Here are some common merchant categories, provided by Citi: Agricultural services: MCCs 0001-1499. Merchant category codes (MCCs) are numbers that classify businesses by what they sell or the service they provide. These four-digit codes are assigned by payment card organizationsVisa, MasterCard, American Express and Discoverwhen the business first starts accepting these methods of payment. List of Merchant Category Codes (MCC) for Visa and Mastercard Merchant Category Codes (MCCs) are used to identify the type of business in which a merchant is engaged. Notably, most of the businesses in the agricultural and manufacturing space are missing from the classi Visa retains the right to require corrections to non-compliant or confusing merchant data. 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). There are hundreds of merchant category classification codes, most of which are shared between the four major card networks -- Visa, Mastercard, Discover and American Express. A Merchant Category Code ( MCC) is a four-digit number listed in ISO 18245 for retail financial services. Change to Interac MCC 4111 Effective November 1, 2021, Interac will include Merchant Category Code (MCC) 4111 (Transportation - Suburban and Local Commuter Passenger) under the Flash Contactless Tier 1 program, with a rate decrease to $0.02 per debit contactless transactions. Contracted services: MCCs 1500-2999. To get an idea of codes, the following is a list of some common merchant To help you get your head around merchant category codes, here are some examples of some MCCs: Gas/service stations: MCC 5541 & 5542 Groceries: 5411 Restaurants: 5812, 5813, 5814 Entertainment: there is a wide range of merchant codes for this category because it depends on what kind of entertainment it is (movie theatres, sporting events and tourist attractions): 7941, 7922, 7996, MCC 5532 - Automotive Tire Stores), as well as codes for specific merchants (e.g. MCC Description Valid Payment Brand(s) 4812 Telecommunication Equipment Including Telephone Sales V, M 4813 Key-Entry Telecom Merchant providing single Merchant category code Description; 0742: Veterinary services: 0763: Agricultural co-operative: 0780: Landscaping and horticultural services: 1520: General contractors - residential & commercial Transportation services: MCCs 4000-4799. Please note that vendors can change their Mastercard Category at any time. MCC 5681Furriers and Fur Shops..99 MCC 5691Mens and Womens Clothing Stores..100 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. Merchant category codes (MCC) are four-digit numbers that a credit card issuer uses to categorize the transactions consumers complete using a particular card. Merchant category codes have several purposes. If applicable, these changes will appear on your November 2021 Here are some common merchant categories, provided by Citi: Agricultural services: MCCs 0001-1499. A merchant category code (MCC) is how credit card networks classify different types of spending. a: 0763. agricultural cooperatives: a. o Grocery store purchases are defined as grocery stores, as identified by the merchant category code, excluding Target and Walmart . Merchant Category Codes: Why They Matter for Credit Card Rewards. Merchant Category Codes | General Merchant Category Codes MCCs 48004999 (Utility Services) The following table includes a list of MCCs in the range 48004999 and the description for each code. Below is the list of MCCs that we use to classify your merchants accounts. By continuing to use our website without changing the settings, you are agreeing to our use of cookies. 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. Merchant Category Codes (MCC) are 4 digit numbers used by the payments industry to classify businesses by market segment. List of High Risk Categories. Expand November 1, 2021 Rate Changes . or by merchant name (e.g., 3000 for United Airlines) and is assigned to a merchant by a credit card company when the business first starts accepting that card as a form of payment. Find Your Merchant Category Mike Conway 2021-03-17T05:16:02+00:00 MERCHANT CATEGORY CODE INDEX MCC Codes identify businesses within an industry or vertical designating some as high risk for fraud and chargebacks. Merchant Manager Login. The IRS publishes a complete list of MCCs on their website , though slight Each MCC code consists of 4 digits. MCCs can vary by card processor, but there are some commonalities. The merchant has some responsibilities too when it comes to the transactions. In this article, you will get details related to the MCC. Merchant Category Code (MCC) is a four-digit number assigned to a merchant account during the setup process. MCC means a merchant category code and is a four-digit classification code, as defined by Visa, that is assigned to a merchant by the merchants payment card network or merchant processor based on the predominant business activity of the merchant. Validation includes a SAQ, quarterly network scan by an ASV and an Attestation of a Compliance Form. Discover: 1.55% - 2.5%. MCC 3001 - American Airlines, or MCC 3513 Westin Hotels). MCCs can vary by card processor, but there are some commonalities. Currently, the MCC guidelines are maintained by the International Organization for Standardization. (2021) 06 Jan 2021. Merchant Manager Login. Below, review some of the most common interchange fees Find all the popular Merchant Category Codes (MCC) in Singapore here! A Merchant Category Code is a four-digit number that identifies the type of products or services the merchant provides. Visa retains the right to require corrections to non-compliant or confusing merchant data. The number denotes the For this reason, it is hard to provide an estimate of what you can expect to pay in credit card merchant fees. MCCs are assigned either by merchant type (e.g., one for hotels, one for office supply stores, etc.) 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. How Are MCC Codes Used? A Merchant Category Code ( MCC) is a four-digit number listed in ISO 18245 for retail financial services. MCC 4411Cruise Lines..54 MCC 4457Boat Leases and Boat Rentals..55 Mastercard: 1.5-2.6%. Ray Hawk Credit card being swiped through a terminal. How To Find A Business's Merchant Category CodeYou can find it on a list Internal Revenue Service's (IRS)publishes IRS established the merchant category codes in 2004. In card network list Credit card networks such as Visa, American Express and Mastercard use MCCs. The different card network uses different codes for different cards. Online MCCs resources The Merchant Category Codes classification system has codes for various business activities (e.g. Share. There are hundreds of merchant category classification codes, most of which are shared between the four major card networks -- Visa, Mastercard, Discover and American Express. Chargeback code. Assignment of MCCs. How Are MCC Codes Used? But generally, Visa and Mastercard have very similar MCC codes. Merchant Category Codes | General Merchant Category Codes MCCs 48004999 (Utility Services) The following table includes a list of MCCs in the range 48004999 and the description for each code. MCC classification is focused primarily on categorizing the businesses/institutions able to receive credit card payments. Published October 27, 2021. We are using cookies to give you the best experience on our site. Most of the time MCC identifies a business correctly but there are always some outliers, especially when it comes to small businesses. An interchange professional will have useful experience optimizing businesses using the Merchant category codes list and could use that knowledge to benefit your business. 0780: landscape and horticultural services. Discover: 1.55-2.5%. An MCC is a denomination that all merchants need in order to operate, whether they provide goods or a service, if they accept credit cards in exchange for their products. Together we can compile a fairly comprehensive list. 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. 2021. Version 2.0 10/8/2021 5 of 18 Comdata Fuel Tax Website Guide ReportQ Quick Reports Descriptions MCC Audit Report by Cardholder View card-level transaction data by merchant category code (MCC), including name on card, MCCs can vary by processor, but there are some common trends. p: 0701. postage transaction charge: a. For Visas merchant category code listing, you can view the Visa Supplier Locator Tool and the Visa Merchant Category Code List. Supplementary merchant information Merchant category code (MCC) Merchant data must be the same as, or consistent with, comparable data throughout a transactions life cycle and on the transaction receipt. determined by the merchant category code (MCC) associated with the Eligible Purchase. MCC Description Valid Payment Brand(s) 4812 Telecommunication Equipment Including Telephone Sales V, M 4813 Key-Entry Telecom Merchant providing single January 6, 2021 | 2 Min Read. A merchant category code (MCC) is how credit card networks classify different types of spending. Depending on the card, plan and retailer, they can earn rewards from one to six percent on purchases. What are Merchant Category Codes? Updated October 27, 2021. Consumers who are after every dollar of savings available often turn to rewards credit cards to maximize their benefits. Merchant Category Code As we know that the credit card processors are responsible for the various payments. The number fluctuates on the basis of the type of business or service the company proposes. p: 0701. postage transaction charge: a. 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. Use Ctrl/Command+F to find the vendor in question! List of Merchant Category Codes (MCC) for Visa and Mastercard. Merchant category codes are four-digit numbers assigned to businesses that accept credit cards. Mastercard: 1.5% - 2.6%. MasterCard Merchant Category Code (MCC), MCG and TCC Classifications.
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