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Merchant category code

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A merchant category code (MCC) is a four-digit number assigned to a business by credit card companies (for instance, American Express, MasterCard, VISA) when the business first starts accepting one of these cards as a form of payment.[1] The MCC is used to classify the business by the type of goods or services it provides. In the United States, it can be used to determine if a payment needs to be reported to the Internal Revenue Service for tax purposes.[2]

See also

References

  1. ^ Merchant Category Codes - usa.visa.com via Internet Archive
  2. ^ Internal Revenue Bulletin - August 2, 2004 - Rev. Proc. 2004-43
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