MCC 5047 covers transactions for medical, dental, ophthalmic, and hospital equipment and supplies, providing critical resources for healthcare operations.
Interchange Fee
The interchange fees for transactions under MCC 5047 typically range from 1.5% to 3% depending on the card network, merchant category, and issuer-specific policies.
Cashback Rewards
Cashback rates for purchases in this category may be offered by certain card issuers, often up to 1% to 2% depending on the card's terms and program incentives.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors for transactions under MCC 5047 beyond standard transaction regulations.
Tax Reporting
Tax reporting for transactions under MCC 5047 may require compliance with IRS guidelines, especially for large transactions or purchases made for business operations. Buyers should consult their tax advisor for specific obligations.