A merchant category code (MCC) is a four-digit number assigned to a business by an acquiring bank or institution when the business opens a merchant account to begin accepting Visa or MasterCard as a form of payment.NextAdvisor Credit Cards How to Find a Business Merchant Category Code (MCC) Advertiser Disclosure How to Find a Business Merchant Category Code (MCC).Credit card networks assign these codes to merchants. Merchants that accept credit card payments will be assigned a merchant category code based on their predominant business type, such as grocery, retail, restaurant, and so forth. Merchant category codes use a classification system to categorize credit card purchases using 4-digit codes.Excel Inn Fairfield Hotels Harley Hotels. MCC List STANDARD MERCHANT CATEGORY CODES. Specifically, code 6050 “Quasi Cash–Member Financial Institution” is only used by Mastercard, and. u/Economist makes the astute observation that there are various categories within the Financial sector which only exist in Mastercard’s book and not in Visa’s. The vast majority of the MCC code are the same for Visa and Mastercard.The IRS issues the code to determine whether the purchase made are to get indicated on the 1099 form. It serves to classify businesses according to the marketing services and products it provides. IRS established the merchant category codes in 2004. You can find it on a list Internal Revenue Service’s (IRS)publishes. ![]() Bank groups similar merchant category codes into Purchase Categories. To offer 2% and 5% Rebates based on purchase type (e.g., 5% cash back for Department Stores purchases), U.S. Ost_3 Merchants that accept Visa credit cards are assigned a merchant code based on the kinds of products and services they sell.
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