(Banks will use MCC codes to judge the authenticity of transactions and prevent fraud risks.) 例句3(中英双语):了解所持信用卡的MCC积分规则,可以帮助持卡人更有效地积累积分。(Understanding the MCC points rules of your credit card can help you accumulate po...
These credit card merchant codes are then used by acquiring banks and payment service providers to set fees, assess risk, and more. Keep in mind that eachcard network—Visa, Mastercard, Discover, and American Express—has its own list of MCCs. While they are largely similar, there might be...
MCCs keep businesses, consumers accountable.Businesses must report certain types of purchases to the IRS. MCC codes can be used to determine whether charges made on a credit card are among them. With health care flexible spending accounts that restrict spending to pharmacies and certain types of ...
Financial Reporting and Analysis:MCC codes allow financial institutions and payment processors to accurately report on and analyze economic activities. Banks and credit card companies can use these codes to generate detailed statements for merchants and customers, which help in tracking expenses and catego...
Merchant category codes are important to both businesses and consumers. Merchants’ transaction rates and fees are often determined by MCCs. For businesses, MCCs may impact the following: Interchange rates, or the fees a business must pay with every debit or credit card transaction A business’s ...
Card issuers also use MCC codes to determine rewards that are specific to certain business types. MCC’s are defined using a standard called ISO 18245.Here is a current (2020) list of merchant category codes (MCC): MCC Codes MERCHANT TYPE 4814 Fax services 4814 Telecommunication Services ...
Card networks (Visa, Mastercard, Amex, Discovery, etc.) maintain their own MCC lists based on the ISO standard code values. Card brands regularly update their MCC lists by adding new codes, removing obsolete MCCs, and updating guidelines based on the latest risk assessments. They also impose ...
However, card networks sometimes tailor these codes to better fit their needs. Here are a few examples of how MCC codes can come into play: Getting Cash-Back Rewards On Purchases Let’s say you’re a cardholder, and you have a credit card that offers 2% cash back on dining. Any ...
provider, you will not only obtain credit card processing, but you’ll also gain the tools and resources you need to protect your business from financial threats. This guide lists high-risk MCC codes, outlines their uses, and explains how they can impact your business’s ability to process ...
Customers also receive a benefit from a business using accurate merchant category codes. The codes track purchases and calculate how much a customer is earning toward a credit card’s promotional rewards, such as loyalty or bonus points. An incorrect code assignment could prove frustrating for a ...