Understanding Merchant Category Code 6381
Merchant Category Codes (MCCs) are key to optimising financial transactions by categorising businesses. MCC 6381, specifically related to Insurance Premiums, is one such code. However, it’s important to note that MCC 6381 is no longer valid for first presentment work. Learn more about merchant category codes and their importance for business operations.
What Businesses Fall Under MCC 6381?
Insurance premiums transactions once used MCC 6381 as their classification. This included activities related to the payment of insurance premiums by clients. While this code covered payments for insurance services, merchants should now look at alternative MCC classifications for accurate business operation.
Adapting to these changes ensures regulatory compliance and enhances payment processing efficiency.
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