What is a MCC in credit card processing?

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.

Why is MCC code important?

Though many merchants likely do not understand MCC codes, it is important to find out whether your business is classified properly. An MCC code impacts the rates you pay to process payments and it can help prevent chargebacks, both of which can make or break your business.

Can a merchant have multiple MCC?

The first time you make a purchase at a certain establishment, check the coding on your statement to make sure the establishment did indeed generate points or cash back under that MCC, Haverty says.

Are MCC codes universal?

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. Often, MCCs are recognized by all payment brands; however, not all codes are recognized by all brands.

Are MCC codes the same for Visa and Mastercard?

The vast majority of the MCC code are the same for Visa and Mastercard. u/Economist makes the astute observation that there are various categories within the Financial sector which only exist in Mastercard’s book and not in Visa’s.

What is the merchant category code MCC of your business?

A merchant category code is a four-digit number used by credit card companies to classify businesses. A business MCC indicates the types of services or goods being sold to customers. In some cases, a business may be able to request an additional MCC for a different part of a business.

What is a merchant category code used for?

A merchant category code is a four-digit number used by credit card companies to classify businesses. A business MCC indicates the types of services or goods being sold to customers.

What is my business MCC code?

MCC codes is a code attached with your merchant accounts and are assigned to you when in the application phase. These are used to identify between business’s and industries. Every website and business has a unique MCC code based on risk and transaction patterns as well as business group.

What is my merchant 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.

Does AMEX use MCC?

For the benefit of readers who aren’t familiar, a merchant category code (MCC) is a four-digit number the major credit card networks (Visa, Discover, American Express and Mastercard) assign to every business that applies to accept credit cards.

What is a merchant number for credit cards?

A merchant account number for credit cards is part of a package that enables your business to take payments by processing credit card transactions. The merchant number ensures that your merchant services company will apply the payments you process through your credit card terminal to the right account.

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