Merchant Category Code List 2024

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The Merchant Category Code (MCC) is a four-digit number that identifies the type of business a merchant operates.

MCCs are used by credit card companies to determine the interchange fees that are charged to merchants for each transaction. They are also used by banks to determine the interest rates that are charged to merchants for credit card loans. The MCC list is updated annually by the International Organization for Standardization (ISO).

The MCC List 2024 contains over 1,700 MCCs. It includes codes for a wide variety of businesses, including:

The Merchant Category Code (MCC) List 2024 is an important resource for businesses that accept credit cards.

Over 1,700 MCCs
Updated annually
Used by credit card companies
Used by banks
Determines interchange fees
Determines interest rates
Wide variety of businesses
Easy to use
Free to download

The MCC List 2024 can help businesses save money on credit card fees and interest rates. It is a valuable resource for any business that accepts credit cards.

Over 1,700 MCCs

The Merchant Category Code (MCC) List 2024 contains over 1,700 MCCs. This is a significant increase from the previous year’s list, which contained just over 1,500 MCCs. The increase in the number of MCCs is due to the growing number of businesses that accept credit cards.

The MCC List 2024 includes codes for a wide variety of businesses, including:

Retail stores
Restaurants
Hotels
Gas stations
Transportation companies
Entertainment venues
Healthcare providers
Educational institutions
Government agencies

The MCC List 2024 is organized into 18 major categories. These categories are:

Food and beverage
General merchandise
Apparel and accessories
Home improvement and hardware
Automotive
Transportation
Entertainment
Travel
Healthcare
Education
Government
Financial
Business services
Personal services
Recreation
Utilities
Other

The MCC List 2024 is a valuable resource for businesses that accept credit cards. It can help businesses save money on credit card fees and interest rates. It is also a valuable resource for consumers who want to understand how their credit card transactions are processed.

Updated annually

The Merchant Category Code (MCC) List is updated annually by the International Organization for Standardization (ISO). This ensures that the list remains accurate and up-to-date with the latest changes in the business world.

The MCC List is updated to reflect changes in the following areas:

New businesses
New products and services
Changes in business practices
Changes in technology

The annual update to the MCC List is important for businesses that accept credit cards. It ensures that businesses are using the correct MCCs for their transactions. Using the correct MCCs can help businesses save money on credit card fees and interest rates.

The MCC List is also important for consumers. It can help consumers understand how their credit card transactions are processed. Consumers can use the MCC List to identify the type of business that processed a transaction and to determine if the transaction was authorized.

Used by credit card companies

Credit card companies use the Merchant Category Code (MCC) List to determine the interchange fees that are charged to merchants for each transaction.

Determine interchange fees
Interchange fees are the fees that credit card companies charge merchants for each transaction. The MCC List helps credit card companies determine the interchange fee that will be charged for each transaction based on the type of business that processed the transaction.
Set merchant discounts
Credit card companies also use the MCC List to set merchant discounts. Merchant discounts are the discounts that credit card companies offer to merchants for accepting credit cards. The MCC List helps credit card companies determine the merchant discount that will be offered to each merchant based on the type of business that the merchant operates.
Monitor merchant activity
Credit card companies also use the MCC List to monitor merchant activity. The MCC List helps credit card companies identify merchants that are engaging in fraudulent or suspicious activity.
Develop new products and services
Credit card companies also use the MCC List to develop new products and services. The MCC List helps credit card companies identify the types of businesses that are most likely to use their products and services.

The MCC List is an important tool for credit card companies. It helps credit card companies manage their risk, set their prices, and develop new products and services.

Used by banks

Banks use the Merchant Category Code (MCC) List to determine the interest rates that are charged to merchants for credit card loans.

The MCC List helps banks assess the risk of a merchant. Merchants that are considered to be high-risk are charged higher interest rates. Merchants that are considered to be low-risk are charged lower interest rates.

The MCC List also helps banks to develop new products and services for merchants. For example, banks may offer special credit card programs to merchants that are in certain MCC categories.

The MCC List is an important tool for banks. It helps banks manage their risk, set their prices, and develop new products and services.

Determines interchange fees

Interchange fees are the fees that credit card companies charge merchants for each transaction. The Merchant Category Code (MCC) List is used by credit card companies to determine the interchange fee that will be charged for each transaction.

Transaction type
The type of transaction is one of the factors that determines the interchange fee. For example, interchange fees for card-present transactions are typically lower than interchange fees for card-not-present transactions.
Merchant category
The MCC of the merchant is also a factor that determines the interchange fee. Merchants that are considered to be high-risk are charged higher interchange fees. Merchants that are considered to be low-risk are charged lower interchange fees.
Card type
The type of card that is used for the transaction can also affect the interchange fee. For example, interchange fees for premium cards are typically higher than interchange fees for standard cards.
Network fees
Network fees are the fees that credit card companies charge each other to process transactions. Network fees can also affect the interchange fee that is charged to merchants.

Interchange fees are a significant cost for merchants. By understanding the factors that affect interchange fees, merchants can take steps to reduce their costs.

Determines interest rates

Banks use the Merchant Category Code (MCC) List to determine the interest rates that are charged to merchants for credit card loans.

Merchant risk
The MCC of the merchant is one of the factors that banks use to assess the risk of a merchant. Merchants that are considered to be high-risk are charged higher interest rates. Merchants that are considered to be low-risk are charged lower interest rates.
Loan amount
The amount of the loan is also a factor that banks use to determine the interest rate. Merchants that borrow large amounts of money are typically charged higher interest rates than merchants that borrow small amounts of money.
Loan term
The term of the loan is also a factor that banks use to determine the interest rate. Merchants that borrow money for short periods of time are typically charged lower interest rates than merchants that borrow money for long periods of time.
Bank’s cost of funds
The bank’s cost of funds is also a factor that can affect the interest rate that is charged to merchants. Banks that have a high cost of funds are typically forced to charge higher interest rates to their customers.

Interest rates on credit card loans can vary significantly from bank to bank. By understanding the factors that banks use to determine interest rates, merchants can shop around for the best loan.

Wide variety of businesses

The Merchant Category Code (MCC) List includes codes for a wide variety of businesses, including:

Retail stores
Retail stores are businesses that sell goods to consumers. Retail stores can be large or small, and they can sell a variety of goods, such as clothing, electronics, food, and furniture.
Restaurants
Restaurants are businesses that sell food and beverages to consumers. Restaurants can be casual or fine dining, and they can serve a variety of cuisines.
Hotels
Hotels are businesses that provide lodging to consumers. Hotels can be large or small, and they can offer a variety of amenities, such as swimming pools, fitness centers, and restaurants.
Gas stations
Gas stations are businesses that sell gasoline and other automotive fuels to consumers. Gas stations can also offer a variety of other services, such as car washes and convenience stores.

These are just a few examples of the many different types of businesses that are included in the MCC List. The MCC List is a valuable resource for businesses that accept credit cards. It can help businesses save money on credit card fees and interest rates.

Easy to use

The Merchant Category Code (MCC) List is easy to use. It is organized into 18 major categories, and each category contains a list of MCCs. Businesses can find the MCC that corresponds to their business by looking up the category that their business falls into.

Once a business has found the MCC that corresponds to their business, they can use that MCC to apply for a merchant account with a credit card processor. The credit card processor will use the MCC to determine the interchange fees and interest rates that will be charged to the business.

Businesses can also use the MCC List to track their expenses. By assigning each transaction to the appropriate MCC, businesses can get a better understanding of how their money is being spent.

The MCC List is a valuable resource for businesses that accept credit cards. It is easy to use and can help businesses save money on credit card fees and interest rates.

Free to download

The Merchant Category Code (MCC) List is free to download from the website of the International Organization for Standardization (ISO).

Easy to access
The MCC List is available in a variety of formats, including PDF, Excel, and CSV. This makes it easy for businesses to download the MCC List in the format that best suits their needs.
No registration required
Businesses do not need to register or provide any personal information to download the MCC List. This makes it quick and easy for businesses to get the information they need.
Regularly updated
The MCC List is updated annually by the ISO. This ensures that businesses always have access to the most up-to-date information.
Valuable resource
The MCC List is a valuable resource for businesses that accept credit cards. It can help businesses save money on credit card fees and interest rates.

Businesses can download the MCC List from the ISO website at the following link: https://www.iso.org/iso-4217-currency-codes.html

FAQ

The following are some frequently asked questions about the Merchant Category Code (MCC) List 2024:

Question 1: What is the MCC List?
Answer: The MCC List is a four-digit code that identifies the type of business a merchant operates.

Question 2: Who uses the MCC List?
Answer: The MCC List is used by credit card companies, banks, and merchants.

Question 3: How is the MCC List used?
Answer: The MCC List is used to determine interchange fees, interest rates, and other fees that are charged to merchants.

Question 4: How often is the MCC List updated?
Answer: The MCC List is updated annually by the International Organization for Standardization (ISO).

Question 5: Where can I download the MCC List?
Answer: The MCC List can be downloaded for free from the ISO website.

Question 6: How do I find the MCC for my business?
Answer: You can find the MCC for your business by looking up the category that your business falls into in the MCC List.

Question 7: What should I do if I cannot find the MCC for my business?
Answer: If you cannot find the MCC for your business, you should contact your credit card processor or bank.

The MCC List is a valuable resource for businesses that accept credit cards. It can help businesses save money on credit card fees and interest rates.

Tips

Here are some tips for using the Merchant Category Code (MCC) List 2024:

Tip 1: Use the correct MCC for your business

Using the correct MCC for your business is important for ensuring that you are charged the correct interchange fees and interest rates. If you are unsure of which MCC to use for your business, you can contact your credit card processor or bank.

Tip 2: Keep your MCC up to date

The MCC List is updated annually, so it is important to keep your MCC up to date. This will ensure that you are always using the most accurate information.

Tip 3: Use the MCC List to track your expenses

You can use the MCC List to track your expenses by assigning each transaction to the appropriate MCC. This can help you get a better understanding of how your money is being spent.

Tip 4: Use the MCC List to identify new business opportunities

The MCC List can be used to identify new business opportunities by researching the MCCs of your competitors and potential customers.

The MCC List is a valuable resource for businesses that accept credit cards. By following these tips, you can use the MCC List to save money on credit card fees and interest rates, track your expenses, and identify new business opportunities.

Conclusion

The Merchant Category Code (MCC) List 2024 is an important resource for businesses that accept credit cards. It can help businesses save money on credit card fees and interest rates, track their expenses, and identify new business opportunities.

The MCC List is updated annually by the International Organization for Standardization (ISO). It contains over 1,700 MCCs, which are used by credit card companies and banks to determine the fees that are charged to merchants.

Businesses can find the MCC that corresponds to their business by looking up the category that their business falls into in the MCC List. Once a business has found the correct MCC, they can use it to apply for a merchant account with a credit card processor.

The MCC List is a valuable resource for businesses that accept credit cards. By using the MCC List, businesses can save money on credit card fees and interest rates, track their expenses, and identify new business opportunities.