He predicts the House will pass the measure if it comes up for a vote. âNine-tenths of these guys know the Russians interfered in our election,â he said. âThe question is will the White House pressure the House Republican leadership not to bring this bill to a vote.â
Merchant Category Codes. MasterCard, Visa, and online debit card networks (card types 013-018, 021-027, and 029-. 030) use a 4-digit numeric merchant category code (MCC) to identify the type of business. conducted by a merchant. Merchant category codes are used when a new merchant account is added to the System. They are also used in warning bulletins, authorizations, chargebacks, settlement, and in certain. types of transactions classified as âquasi-cashâ transactions by Visa. Merchant category groups (MCGs) are used with the Commercial Market Analysis product and. are general categories under which merchant category codes fall.
Retail Merchants. In the realm of credit card processing a Retail Merchant is defined as a merchant who does over 70% of their transactions swiped through a credit card terminal at the point of sale/transaction. Qualified Transaction (also referred to as the Swiped Rate)