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An MCC reflects the primary category in which a merchant does business and may be used: to determine the interchange fee paid by the merchant, with riskier lines of business paying higher fees; by credit card companies to offer cash back rewards or reward points for spending in specific categories [4] [5]
ISO 18245 is an ISO standard concerning the assignment of merchant category codes (MCC) in retail financial services. These are used to control usage of corporate credit cards . MCCs are assigned by merchant type (e.g. one for hotels , one for office supply stores, etc.), with each merchant being assigned an MCC by the bank .
Merchant code range. Business type. 0001–1499. Agricultural services. 1500–2999. Contracted services. 4000–4799. Transportation services. 4800–4999. Utility ...
The Global Industry Classification Standard (GICS) is an industry taxonomy developed in 1999 by MSCI and Standard & Poor's (S&P) for use by the global financial community. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries [1] into which S&P has categorized all major public companies.
Square is a point-of-sale system for sellers with physical or online stores. [2] [3] Launched in 2009 by Block, Inc., [4] it enables merchants to accept card payments and manage business operations.
Merchant Customer Exchange (MCX) was an American company created by a consortium of U.S. retail companies to develop a merchant-owned mobile payment system, which was to be called "CurrentC." The joint venture was announced on August 15, 2012.
General line of merchandise or general merchandise is a term used in retail and wholesale business in reference to merchandise not limited to some particular category. General merchandise stores (general stores) address this sector of retail.
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