Add Yahoo as a preferred source to see more of our stories on Google. Merchant category codes, sometimes called MCC codes or merchant codes, classify merchants based on the products or services sold.

US credit card giants said they will implement a new merchant category code for the nation's gun retailers, which gun control activists say will help flag potential mass shooters and gun traffickers.

March 9 (Reuters) - Top payment networks including American Express Co , Mastercard Inc (MA.N), opens new tab and Visa Inc (V.N), opens new tab said on Thursday they have paused work on implementing a ...

Merchant category codes now exist for almost every kind of purchase, including those made at supermarkets, clothing stores, coffee shops, etc. Gun retailers were coded as general merchandise. Payment ...

Visa and Mastercard have decided to pause implementing a plan that activists had hoped would track firearm sales and help curb gun violence. The payment giants said they would suspend their work on ...

Visa Inc.,V1.00%increase; green up pointing triangle Mastercard Inc. MA 0.87%increase; green up pointing triangle and American Express Co. AXP 0.23%increase; green up pointing triangle will add a new ...

A merchant category code — or an MCC — is a four-digit number used by credit card companies to classify businesses for payments, taxation and rewards purposes. MCCs affect the interchange rates and ...