May 28, 2018 Now used for many purposes, the merchant category code assigned to a business impacts the bottom line. A high-risk ecommerce merchant

An MCC, or Merchant Category Code, is a four-digit number that reflects a merchant’s line of business. Originally part of a program established by the IRS to streamline 1099 reporting, MCCs now impact everything from disputing chargebacks to managing rewards programs on consumer credit cards.

What Are MCC Codes and How Are They Used for Merchant Accounts? Accepting credit and debit cards as a payment option can be a highly profitable choice for most merchants, as it offers customers the convenience of one of the most commonly and easily used forms of payment, thereby making it simpler for them to patronize the merchant’s business and potentially spend more than they otherwise might. SIC codes are managed by the U.S. Department of Commerce and used by the IRS and processing banks, while MCC codes are issued by the credit card brands (Visa, MasterCard, Discover and Amex). While these four-digit numbers sometimes overlap and sometimes differ, they both categorize a business by its industry. Basically, this merchant code helps categorize you within a sea of data.

Risk mcc codes

Each code consists of four digits. In most cases, the MCCs get very specific. For example, there are codes for different types of contractors — plastering (1740), electrical (1731), and heating (1711) to name a few. High-Risk Codes Be advised when looking at what is MCC code data that your business might fall under a high-risk category. Businesses with high-risk MCCs will pay more in interchange fees and may be subject to additional transaction rules. MCC = Merchant Category Code and it is a four-digit number used by acquiring banks. And also by card schemes to identify a business selling online and is listed in ISO 18245 for retail financial services.

An MCC, or Merchant Category Code, is a four-digit number that reflects a merchant’s line of business. Originally part of a program established by the IRS to streamline 1099 reporting, MCCs now impact everything from disputing chargebacks to managing rewards programs on consumer credit cards.

MCC 3001 - American Airlines, or MCC 3513 Westin Hotels). Since 2004, merchant category codes have come to be utilized for more than simplifying 1099 reporting. 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. 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.

An MCC code is a four-digit universal number used to categorize businesses in specific industries. This code is used by all major credit card providers – Visa, Master Card, American Express, and Discover. The codes may be different per credit card company, but for each one, they help maintain a uniform system for opening merchant accounts.

The Merchant Category Codes classification system has codes for various business activities (e.g. MCC 5532 - Automotive Tire Stores), as well as codes for specific merchants (e.g. MCC 3001 - American Airlines, or MCC 3513 Westin Hotels).

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MCC is a criterion which aims at organizing different types of businesses. International Organization for Standardization (ISO) is an organization which sets these codes, the classification and their meaning. However, … Structure.

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List of High Risk Categories. 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. Below we have compiled a list of typical categories which acquirers and payment providers treat as high risk, imposing stricter

Determine Chargeback Protections: Certain types of MCCs like direct marketing, betting, and money orders don’t have the same eCommerce fraud protections in card-not-present transactions. 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.

MCCs can also affect risk measurement. For example, some credit card companies may use MCC classification to increase transaction fees and rates for "higher-risk" businesses like pawnshops and

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