A Merchant Category Code (MCC) is a four-digit classification code used by payment processors and card networks, such as Visa, Mastercard, and American Express. This code categorizes your business according to the specific goods or services you provide.
Understand the role of an MCC
The MCC helps financial institutions and card networks understand your business type. This classification is essential for several parts of the payment ecosystem, including:
Transaction processing: How your payments are handled.
Risk and compliance: How banks assess your business for regulatory requirements.
Fee calculation: Determining the processing fees for your transactions.
Fraud monitoring: Applying the correct security filters to your account.
Rewards programs: Determining guest eligibility for cashback or points from their banks.
Each code corresponds to a specific industry classification. This allows card networks to apply the correct processing rules and risk assessments for your business sector.
MCC assignment
The MCC associated with your sub-account is assigned during the GuestyPay onboarding process.
Our banking partners determine the code as part of your merchant account setup. This assignment is based on several factors, including:
Industry type
Specific business activities
Regulatory considerations
Risk assessment
Check your MCC
If you need to verify which MCC is assigned to your account, contact us.