MCC 2842 pertains to businesses involved in the production, sale, and distribution of products used for sanitation, polishing, and specialty cleaning.
Interchange Fee
Interchange fees for transactions under MCC 2842 typically range from 1.3% to 2.7%, based on the card network and transaction type. Rates may vary according to the nature of the business and promotions from card issuers.
Cashback Rewards
Certain card issuers may offer 1% to 2% cashback for purchases classified under this MCC, depending on the cardholder’s rewards program.
Rules and Restrictions
There are no specific rules or restrictions from payment processors for transactions under MCC 2842. Standard terms of service and processing rules apply.
Tax Reporting
Purchases categorized under MCC 2842 may be subject to applicable state and federal taxes. The IRS may require tax reporting based on the transaction's nature and its purpose as a business expense.