Understanding Merchant Category Code 5933: Pawn Shops and Salvage Yards
A Merchant Category Code, or MCC, is a four-digit numerical identifier categorising businesses based on their primary trade. Banks and credit card firms employ these codes to calculate interchange charges and monitor transaction categories. In essence, it tells the payment system the nature of the establishment.
Merchant Category Code (MCC) 5933 applies to businesses primarily engaged in pawn shops and salvage yards. Understanding merchant category codes facilitates better transaction reporting and optimises business strategies.
What Types of Businesses Fall Under MCC 5933?
MCC 5933 categorises businesses that focus on lending on the pawn of personal property and selling second-hand goods.
These include:
- Pawn Shops: Retail outlets dealing in short-term loans collateralised against personal items.
- Salvage Yards: Facilities that sell used auto parts and other salvaged goods.
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