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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 .
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. ... You can also search online ...
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.
The U.S. Census Bureau, Bureau of Labor Statistics, Internal Revenue Service and Social Security Administration utilize SIC codes in their reporting, although SIC codes are also used in academic and business sectors. The Bureau of Labor Statistics updates the codes every three years and uses SIC to report on work force, wages and pricing issues.
This is likely because Twitch registered with Visa using a Merchant Category Code (MCC) like 4899 for “Pay Television,” which someone down the line mistook for a cable bill. Amount : The ...
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The Independent Community Bankers of America specifically requested information about a new online gambling merchant category code. [59] Mastercard has dedicated MCC 7801 to online gambling. This code is distinct from 7800 for government owned lotteries and 7802 for government licensed horse and dog tracks. [60]