Category: Merchant Category Code
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Lawmakers Call for Credit Card Companies to Decide on Firearm Merchant Category Code
Firearms, Guns, HIGH RISK MERCHANt, HIGH RISK MERCHANT ACCOUNT, MERCHANT ACCOUNTS, Merchant Category CodeIn recent months, the implementation of a new merchant category code (MCC) specifically for gun and firearm sales has sparked a complex debate among financial institutions, lawmakers, and the firearms industry in America. This development, initiated by the International Organization for Standardization (ISO) in September 2022, is poised to bring significant changes to how credit…
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One Account, Two Businesses? Exploring Business Bank Accounts, Merchant Accounts, and LLCs
MERCHANT ACCOUNTS, Merchant Category Code, PAYMENT GATEWAY, PAYMENT PROCESSING, USA MERCHANT, USA MERCHANT ACCOUNTIf you’re anything like me, you’re continually looking for ways to streamline your operations and optimize your business financials. One question that seems to pop up frequently is, “Can I use the same bank account for two businesses?” And it’s no wonder this query surfaces so often. After all, wouldn’t it be simpler to handle…
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Find, Change, and Optimize Your Merchant Category Code
MCC codes (Merchant Category Codes) are assigned to every merchant upon the approval of their merchant account application. As important as these codes are, they aren’t always readily apparent, leaving merchants in the dark. Each MCC code comes with varying rates, fees, benefits, and drawbacks. It’s not always easy selecting the best MCC for your…
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FAQ Fridays: Your Merchant Category Code Can Increase Your Sales
A regular query I get from prospects and new clients, like this one from Paul K., who runs a supplement shop that’s been scaling considerably in the last few months: “Maria, I’ve signed up with a new payment processor – and they asked me what Merchant Category Code (MCC) my business is. What’s this all…
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