Merchant Category Codes (MCCs) are critical for assessing risk, minimizing liability, and maximizing revenue. Despite their critical role in the payments ecosystem, too many acquiring banks and payment processors take merchant-provided MCCs at face value or even onboard merchants who leave the code field blank
This guide covers:
- Best practices for verifying merchant-provided MCC data
- Tracing their evolution from tax-related identifiers into valuable tools for managing risk and growth
- Challenges associated with missing or misclassified MCCs
