Get the free Merchant Category Code - Visa
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Aug 2, 2004 ... You are free to review the documentation for each transaction and make your own determination whether you should report it or not. 11.
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How to fill out merchant category code
How to Fill Out Merchant Category Code:
01
Research and understand the purpose of the Merchant Category Code (MCC).
02
Determine the appropriate MCC for your business based on the products or services you offer.
03
Contact your payment processor or acquiring bank to obtain the necessary MCC form.
04
Fill out the MCC form accurately, providing all required information such as business name, address, and contact details.
05
Specify the primary line of business and select the MCC that best represents your industry.
06
Review the MCC form for any errors or missing information before submitting it.
07
Submit the completed MCC form to your payment processor or acquiring bank for review and approval.
08
Follow up with the payment processor or acquiring bank to ensure the MCC is successfully updated in your account.
Who Needs Merchant Category Code:
01
Businesses that accept credit and debit card payments.
02
Merchants who want to accurately classify their business based on the products or services they offer.
03
Payment processors and acquiring banks who require the MCC to properly categorize transactions and determine risk levels.
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What is merchant category code?
The merchant category code is a four-digit number assigned to merchants by credit card networks to classify the business by the goods or services they provide.
Who is required to file merchant category code?
All businesses that accept credit card payments are required to have a merchant category code.
How to fill out merchant category code?
The merchant category code is typically provided by the payment processor or acquirer when setting up the merchant account.
What is the purpose of merchant category code?
The purpose of the merchant category code is to help credit card networks and issuers identify the type of business processing the transaction.
What information must be reported on merchant category code?
The merchant category code usually includes information about the type of goods or services being sold by the merchant.
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