MCC 1740 covers businesses engaged in masonry, stonework, tile setting, and plastering services. This includes constructing or repairing structures with stone, tiles, plaster, and similar materials, providing both residential and commercial services for building and renovation projects.
Interchange Fee
Interchange fees for MCC 1740 transactions usually range from 1.5% to 3.5%, based on the transaction type, payment processor, and associated risk. These contractors may experience variable rates due to project scope and value, and they may negotiate specific terms with card networks.
Cashback Rewards
Cashback rewards may be available for payments made to contractors under MCC 1740, particularly through credit cards that emphasize home improvement and renovation categories. Specific cashback rates and eligibility vary by issuer and program conditions.
Rules and Restrictions
There are no special rules imposed by payment processors specifically for MCC 1740 transactions. Standard card-present and card-absent transaction rules apply, as outlined by card network policies.
Tax Reporting
For tax purposes, payments to businesses under MCC 1740 are treated as service payments, and in the United States, they may require reporting to the IRS if certain thresholds are met. Buyers typically do not incur direct taxes on these services, but compliance obligations apply to the contractors themselves.