Categories: InsightsUncategorized

What is Merchant Category Code 5970: Artist’s Supply and Craft Shops

Understanding MCC 5970: Artist’s Supply and Craft Shops

An MCC, or Merchant Category Code, is a four-digit number assigned by payment processors to classify a business according to the type of goods or services it provides.  MCCs are defined by the International Organization for Standardization (ISO) and are universally recognised by most card issuers.

Merchant Category Code (MCC) 5970 designates businesses involved in the sale of art supplies and crafting materials. Understanding the specific MCCs applicable to your business can optimise your transaction processing and compliance. MCC 5970 helps merchants in the art and craft industry correctly categorise their business transactions, ensuring seamless financial operations.

Businesses Included Under MCC 5970

MCC 5970 encompasses a range of enterprises dedicated to artistic and crafting endeavours.

These include:

  • Art Supply Stores: Retailers offering paints, brushes, canvases, and other art-related products.
  • Craft Shops: Vendors providing materials for various crafts, such as scrapbooking, knitting, and pottery.

RAPYD SOLVES PAYMENTS—ONCE AND FOR ALL BUSINESSES

Get everything your business needs to accept payments worldwide from a global leader. From merchant accounts, card acquiring, and online payment gateway to payouts and multi-currency business accounts, Rapyd makes money move.

  • Accept Visa, Mastercard, and hundreds of alternative payment methods
  • Boost authorisation rates with a direct, local card acquirer
  • Send instant payouts worldwide
  • Create virtual IBAN accounts

Work with a top-20 Visa acquirer trusted by 250,000+ businesses globally.

GET STARTED

Mark Stiltner

Mark Stiltner is a finance and fintech writer. From educating independent investment advisors on retirement plan management to helping families maximize their savings to educating businesses on global payment preferences, Mark has spent over a decade researching and educating audiences on complex financial topics. Mark has been a contributing author on blog articles and educational content for the Bank of Colorado, Pinnacle Bank, TD Ameritrade, First Data and Rapyd.

This website uses cookies.

Read More