Merchant Category Code definition

Merchant Category Code means the code established by a payment network that identifies and classifies goods or services offered by a merchant.

Merchant Category Code means a four-digit number used by the Payment Card industry to classify suppliers into market segments;

Merchant Category Code means the code assigned to a merchant by Mastercard or Visa or other card associations when the merchant accepts a card from them as form of payment. The code classifies type of goods or services provided by the merchant;

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.

More Definitions of Merchant Category Code

Merchant Category Code means such numerical code assigned to a particular category of merchants classified according to the nature of their business.

Merchant Category Code means a specific identification

Merchant Category Code or “MCC” means the code established by a payment network that identifies and classifies goods or services offered by a merchant.

Merchant Category Code means the numerical code listed in ISO 18245 that classifies a business by the types of goods or services it provides.

Merchant Category Code means the code assigned by the Card Schemes to Merchant based on Merchant’s line of business that identifies the types of Card transactions that Merchant will process, and the initial MCC assigned to Merchant is set forth in the Merchant Terms Acknowledgement.

Merchant Category Code means the numerical code listed in ISO 18245 that

Merchant Category Code or “MCC” is means the code assigned by the respective acquiring bank to identify the type of business or service a company offers.