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What is the MCC code?
V
Written by Victor
Updated over 4 months ago

Understanding MCC Codes

MCC stands for Merchant Category Code. It is a four-digit number assigned to businesses by credit card companies to classify the type of products or services they offer. This code is crucial as it helps in identifying and tracking transactions made by credit and debit cards.

Direct Credit Card Transactions

  • 7278 - Buying or Shopping Services

FavePay Transactions

  • 7278 - Buying or Shopping Services

These codes are used to categorize the nature of transactions and ensure proper processing by financial institutions.

Why are MCC Codes Important?

MCC codes are vital for businesses and consumers alike. They:

  • Help in determining transaction fees.

  • Ensure the correct application of rewards and benefits.

  • Aid in the proper classification of merchant industries.

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