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MCCs are assigned either by merchant type (e.g., one for hotels, one for office supply stores, etc.) or by merchant name (e.g., 3000 for United Airlines [1]) and is assigned to a merchant by a credit card company when the business first starts accepting that card as a form of payment. [2]
A merchant category code — or an MCC — is a four-digit number used by credit card companies to classify businesses for payments, taxation and rewards purposes.
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.
Unlike other debit cards, the IRS does not allow FSA debit cards to be used at every merchant that accepts Visa or MasterCard. Rather, only the following types of merchants may accept an FSA debit card, usually enforced using "merchant category codes" or "merchant type codes" assigned by Visa and MasterCard:
Visa's VPay brand can specify PAN lengths from 13 to 19 digits and so card numbers of more than 16 digits are now being seen. Switch was re-branded as Maestro in mid-2007. [ 21 ] In 2011, UK domestic Maestro (formerly Switch) was aligned with the standard international Maestro proposition with the retention of a few residual country specific rules.
The Fixed Acquirer Network Fee (FANF) is a fee that Visa began assessing each of its merchants for in April 2012. [1] Ranging from US$1.25 to $380,000, it is based on the size of the merchant. [2]
A merchant plug-in (MPI) is a software module designed to facilitate 3-D Secure verifications to help prevent credit card fraud. [1] The MPI identifies the account number and queries the servers of the card issuer (Visa, MasterCard, or JCB International) to determine if it is enrolled in a 3D-Secure program and returns the web site address of the issuer access control server (ACS) if it is ...
When a transaction is made, the card holder is offered a paper or electronic transaction record containing information about the purchase. This includes: transaction amount, transaction number, transaction date and time, transaction type (deposits, withdrawal, purchase or refund), type of account being debited or credited, card number, identity of the card acceptor (organization/store address ...