Prior to MCC classification, cardholders had to sort through transaction-level detail to determine whether a payment card purchase needed to be reported. 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. You can find a full list of merchant category codes provided by the IRS here. Merchant Category Codes (MCC) are 4 digit numbers used by the payments industry to classify businesses by market segment. Skip to Content. Understanding merchant category codes can help you squeeze the most value from your rewards card. 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. 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. Merchant category codes. That’ll bring you directly to the relevant sections of the merchant category code listing. Merchant Category Codes are four-digit numbers assigned by the acquiring bank to merchants based on the type of product or service they provide. For example, a veterinary clinic would be assigned a merchant category code of 0742 for “Veterinary Services.”. Rules impacting processors and merchants. 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 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. MCCs are now utilized by several parties. Each industry has different transaction patterns and differing levels of risk (potential for fraud). The Merchant Category Code (MCC) is a bit simpler to explain. Merchant Category Code (“MCC”) 5411, based on RBC MasterCard purchase data as of May 2011. Mastercard Mcc Codes And Definitions . Credit card processors, however, are the ones responsible for assigning each of the codes to a business or merchant. … Now Used for Much More. Rewards cards use Merchant Category Codes, or MMCs, to define purchase streams eligible for rewards earnings. This is why it is important for you to know the qualifying merchants for your credit card and their respective merchant category code (MCC). But, we got you fam. 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. Merchant Category Code List Excel . A. A. 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. A public repository of Merchant Category Codes (MCC) in formats easier to read than most places (i.e. At WePay, we use a similar code to help us better understand your business. The same data is available in several formats: csv; small json - no whitespace characters; formatted json - indented for legibility; ods (LibreOffice and OpenOffice.org compatible) xls (Microsoft Office & useful with many other systems that can read xls) Fields. A Merchant Category Code (MCC) is a four-digit number listed in ISO 18245 for retail financial services. Skip to Content. But, we got you fam. Assignment of MCCs. How To Find Your Merchant Category Code . 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. Bank Of America Mcc Codes. The number represents the type of business or service the company offers. And that success is better assured if you have access to and understand the Mastercard … This is not an exhaustive list of merchants operating in Canada that are classified with the MCC 5411. It allows the credit card companies to classify what types of goods or services the merchant sells, and how that may affect interchange rates. You can find a full list of merchant category codes provided by the IRS here. The merchant will be designated the four-digit code once he starts to accept payments by credit card. As a Mastercard processor or merchant, you are vital to our success. 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 another four-digit code, but this one is assigned to merchants through credit card companies (VISA, MasterCard, etc.) However, MasterCard uses an additional transaction category code (TCC) to further identify general business categories. The number represents the type of business or service the company offers. Browse our list of SecureCode Mastercard technology vendors. Drug stores and pharmacies that sell qualifying products may also accept FSA and HSA cards if they have appropriate MCCs and meet additional requirements. Since 2004, merchant category codes have come to be utilized for more than simplifying 1099 reporting. MasterCard’s TCC codes are as follows: Browse our list of SecureCode Mastercard technology vendors. Mastercard rules, standards & compliance programs for the merchants, processors & customers promote reliable, flexible & secure commerce. AGRICULTURAL COOPERATIVES. Here’s a detailed list of Merchant Category Codes (MCC). Home About Mastercard Careers ... Merchants; Safety & Security; Mastercard SecureCode; Mastercard SecureCode Vendor List; SUPPORT. Frequently Asked Questions In Canada call 1-800-307-7309 Global Emergency Contacts Tweet Us @MastercardCA About Mastercard Careers … Code Reason Description #4: Excessive Chargebacks: With respect to a Merchant reported by a Mastercard Acquirer, the number of Mastercard chargebacks in any single month exceeded 1% of the number of Mastercard sales Transactions in that month, … Skip to Content. Cards; Additional products; Customer Support; Digital; FR Login MCC Description Valid Payment Brand(s) 5712 Equipment, Furniture and Home Furnishings Stores (except Appliances) V, M 5713 Floor Covering Stores V, M 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. The number will be designated by Visa, MasterCard, or by any other credit card provider that the merchant has chosen to work with. 1520. As a Mastercard processor or merchant, you are vital to our success. It is similar to a Standard Industrial Classification (SIC) code, but it is broader in scope. Home About Mastercard Careers ... Merchants; Safety & Security; Mastercard SecureCode; Mastercard SecureCode Vendor List; SUPPORT. 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 Description; 0742: Veterinary services: 0763: Agricultural co-operative: 0780: Landscaping and horticultural services: 1520: General contractors - residential & commercial: 1711: Heating, plumbing, and air conditioning contractors: 1731: Electrical contractors: 1740: Masonry, stonework, tile setting, plastering & insulation contractors: 1750 A quick Mastercard merchant category code lookup will also find you a list of Mastercard MCCs pretty easily. As a Mastercard processor or merchant, you are vital to our success. "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." OTHER INFORMATION. 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) Below is the list of MCCs that we use to classify your account under. How To Find Your Merchant Category Code . MCCs can vary by processor, but there are some common trends. 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. Home About Mastercard Careers ... Merchants; Safety & Security; Mastercard SecureCode; Mastercard SecureCode Vendor List; SUPPORT. Home About Mastercard Careers ... Merchants; Safety & Security; Mastercard SecureCode; Mastercard SecureCode Vendor List; SUPPORT. Several resources are available online that provide a merchant category code list. 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) Frequently Asked Questions If you need to report a lost or stolen card or have any other questions regarding your Mastercard… Your business must be classified with the correct MCC. 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. 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. 3374 ACCENT RENT-A-CARNot considered high-risk. Once you have identified the transaction, you can match the Merchant Category with either Visa or MasterCard’s list of merchant codes. An MCC is used to classify a business by the types of goods or services it provides. For example, acquirers use MCC classification as a measure of risk and to identify prohibited business types, and Visa and MasterCard use merchant category codes to influence interchange fee qualification. Usmc Mcc List Excel . After all, you would not want to make a big-ticket purchase, only to find that it does not qualify for credit card rewards. Bank Of America Mcc Codes. 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). List of merchant category codes. FOLLOW US. 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. 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. 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 … It’s important to note that most merchant category codes will not qualify a business for lower interchange rates, and some MCCs qualify a business for industry-specific interchange rates that are different than typical rates, but not necessarily lower. An MCC is used to classify a business by the types of goods or services it provides. Why are merchant category codes important? MCCs are now utilized by several parties. 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. MCC MCC Title & Description Risk Level. 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). COMPANY. Mastercard Securecode Merchant List. Once you have identified the transaction, you can match the Merchant Category with either Visa or MasterCard’s list of merchant codes. when they first start accepting credit cards. Visa retains the right to require corrections to non-compliant or confusing merchant data. Mastercard Merchant Category Codes Pdf The list spells out both Visa and Mastercard categories, and where they differ. Mastercard Mcc Codes And Definitions . Visa Merchant Supplies . And that success is better assured if you have access to and understand the Mastercard rules and how they may apply to your business. A. 7399 Mcc Code . Visa Merchant Codes. Merchant Code Lookup . After all, you would not want to make a big-ticket purchase, only to find that it does not qualify for credit card rewards. 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. Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees. COMPANY. MCC 6051—Quasi Cash—Merchant.....141 MCC 6533—Payment Transaction—Merchant.....144 © Read more about taking credit cards at a medical practice. 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. Merchant category codes are four-digit numbers that payment networks such as Visa and Mastercard assign to individual businesses. Assignment of MCCs. Merchant category codes (MCCs), or merchant classification codes, are a four-digit identifier that describes the type of goods or services a business provides. COMPANY. Merchant category codes (MCCs), or merchant classification codes, are a four-digit identifier that describes the type of goods or services a business provides. Rules impacting processors and merchants. 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. 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). MasterCard uses the same merchant category codes referenced by the IRS and other payment brands such as Visa, Discover and American Express. 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. Download for more details. 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. OTHER INFORMATION. Mastercard's merchant services helps boost your revenue by accepting payments online, in app or in person - with simplicity, security & speed. 7399 Mcc Code . Aside from cardholder reporting, merchant category codes are used by the major card brands (Visa, MasterCard, Discover and American Express) to influence the interchange fees that a business pays. Merchant Category Code List Excel . 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 originally created to simplify 1099 reporting for commercial cardholders. 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. This is Financial Institution – Merchandise & Services which matches Visa’s MCC of 6012. Visa retains the right to require corrections to non-compliant or confusing merchant data. FOLLOW US. 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). 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. 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. 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. OTHER INFORMATION. COMPANY. I’ll discuss this further in the section “Why are merchant category codes important?”, below. 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. This list was compiled as of October 2011 and is a sampling of participating merchants operating in Canada who are classified by MasterCard by the Merchant Category Code (“MCC”) 5411, based on RBC MasterCard purchase data as of May 2011. A merchant category code is a four-digit number used by credit card companies to classify businesses into market segments. No. 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. Mastercard Merchant Category Code Of particular importance to businesses is a merchant category code’s impact on interchange fees charged by issuing banks. 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. We will discuss the finer points of MCCs below. Medical practices and healthcare businesses that accept HSA and FSA cards can only do so if they’re correctly classed with a healthcare MCC. MCC Codes: MERCHANT TYPE: 4814: Fax services: 4814: Telecommunication service … What is a merchant category code? Your MCC code is something that usually exists quietly behind the scenes once your business gets going. … The number will be designated by Visa, MasterCard, or by any other credit card provider that the merchant has chosen to work with. You’re probably familiar with the stickers on various fruits and vegetables. Mastercard Country Code List. Merchant Code Lookup . Skip to Content. MCC codes are used by issuing bank to determine if they will except the transaction. MasterCard uses the same merchant category codes referenced by the IRS and other payment brands such as Visa, Discover and American Express. Now referred to as Merchant Category Codes (MCC) or Transaction Category Codes (TCC), which are a used to categorise businesses by industry based on the goods and services being sold. LANDSCAPE AND HORTICULTURAL SERVICES. This is Financial Institution – Merchandise & Services which matches Visa’s MCC of 6012. Mastercard Merchant Category Codes Pdf From the code given, the tax … Originally created in 2004 to streamline 1099 reporting, merchant category codes are now used for a number of different purposes. Perhaps the easiest way to explain MCC codes is to compare these with grocery store PLU codes, or price lookups. Merchant category codes are four-digit numbers that credit card networks —like Visa, Mastercard, American Express and Discover—mainly use to classify businesses in … Frequently Asked Questions In Canada call 1-800-307-7309 Global Emergency Contacts Tweet Us @MastercardCA About Mastercard … Ben believes in empowering businesses by providing access to fair, competitive pricing, accurate information, and continued support. Here's what MCCs are, how they work and why they matter. 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 developed by the IRS in 2004 as a way to streamline 1099 reporting for commercial card holders. Your MCC code is something that usually exists quietly behind the scenes once your business gets going. Can I get set up with a different MCC to get lower rates? The codes, their meanings and classifcation are set by the International Organization for Standardization (ISO). There are situations where two or more MCCs might apply to one business, such as a restaurant that also has a sit-down bar. 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. Merchant Category Code List Excel . You also should be aware that Mastercard rules and other standards change from time to time. Mastercard Category Code. Feel free to download the official Mastercard Rules and other important documents below. A Merchant Category Code (MCC) is a four-digit number listed in ISO 18245 for retail financial services. 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 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. 7623 A/C, Refrigeration RepairNot considered high-risk. MCC codes are numbers which usually consist of four digits and relate to a given merchant’s industry. 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 were developed by the IRS in 2004 as a way to streamline 1099 reporting for commercial card holders. Browse our list of SecureCode Mastercard technology vendors. American Express Merchant Category 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. Mastercard solutions help merchants to increase revenue, enable new sales channels, create better purchase experiences, … Visa Merchant Codes. … 3412 A-1 RENT-A-CARNot considered high-risk. 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. Credit card processors, however, are the ones responsible for assigning each of the codes to a business or merchant… GENERAL CONTRACTORS - RESIDENTIAL BUILDINGS. It wouldn’t be possible for your restaurant to be classed as a supermarket to take advantage of lower grocery interchange rates. A merchant category code is a four-digit number used by credit card companies to classify businesses into market segments. OTHER INFORMATION. Skip to Content. 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. And that success is better assured if you have access to and understand the Mastercard … not a PDF). 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. 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. 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. If you’re not sure what interchange fees are, take a moment to read up interchange fees here. Your email address will not be published. Merchant Identification Number Lookup . not a PDF). Skip to Content. We use the following four-digit ISO 18245 merchant category codes (MCCs) to classify your business. • 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. This is why it is important for you to know the qualifying merchants for your credit card and their respective merchant category code (MCC). When a card offers rewards on a changing set of categories (like 5% on groceries one quarter, 5% on restaurants the next, etc.) 5818 Large Digital Goods Merchant 5819-5820 Reserved for ISO use 5821-5911 Reserved for private use 5912 Drug stores and pharmacies 5913-5915 Reserved for private use 5916-5920 Reserved for private use 5921 Package shops — beer, wine and liquor 5922-5930 Reserved for national use 5931 Used merchandise and second-hand shops What is a merchant category code? Additionally, on the consumer side, credit card rewards points are sometimes calculated by MCC. A quick Mastercard merchant category code lookup will also find you a list of Mastercard MCCs pretty easily. That’ll bring you directly to the relevant sections of the merchant category code listing. That means that the costs you pay for credit card processing are partly influenced by your 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. A public repository of Merchant Category Codes (MCC) in formats easier to read than most places (i.e. Start accepting Mastercard to help make your business boom. Mastercard rules, standards & compliance programs for the merchants, processors & customers promote reliable, flexible & secure commerce. Businesses with certain merchant category codes may qualify for interchange rates that often lead to lower than typical credit card processing charges. My assumption is that Visa and Mastercard use the same codes for all banks. Major airlines and hotels each have their own MCC code. However, MasterCard uses an additional transaction category code (TCC) to further identify general business categories. 0780. the rewards will only be calculated for purchases made at businesses with relevant merchant category codes. • 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 Merchant Category Codes. Merchant Category Code, or MCC, is a four-digit merchant classification code that identifies the merchant by their business line. FOLLOW US. Browse our list of SecureCode Mastercard technology vendors. Canadian Tire Bank ® Toggle navigation. 0763. If you compared these from store to store, you’d find that yellow bananas usually have code 4011 on them. His dedication to transparency and education has made CardFellow a staunch small business advocate in the credit card processing industry. Download for more details. FOLLOW US. American Express Merchant Category Codes. 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.