Examples of Merchant Category Code in a sentence
Internal controls include policies, procedures, and training in addition to spending limits and Merchant Category Code restrictions.
A Merchant Category Code (MCC) is a four digit number assigned to a merchant/business by the merchant’s acquiring bank.
The assignment of Merchant Category Code (MCC) and Merchant Identity Description (MID) for each merchant is performed by the respective merchant’s acquiring bank and it is the responsibility of the particular acquiring bank to assign the correct MCC and MID.
The high-risk transactions include, but are not limited to, any under Merchant Category Code 5967 – Direct Marketing – Inbound Telemarketing Merchants.
The main business activity and any transaction performed at a merchant are classified under a Merchant Category Code (“ MCC”) assigned by the association scheme and determined by the merchant and the merchant’s acquiring bank.