MCC 5231 refers to businesses primarily engaged in selling glass, paint, wallpaper, and related home improvement materials and supplies.
Interchange Fee
Typical interchange fees for this category range from 1.5% to 3.0%, varying based on the type of card used (credit, debit, or business) and specific agreements with card networks.
Cashback Rewards
Cardholders may receive 1% to 5% cashback rewards for purchases under MCC 5231, depending on the card issuer's rewards programs and promotions related to home improvement and decor.
Rules and Restrictions
There are no special rules or restrictions enforced by payment processors for transactions classified under MCC 5231, aside from standard compliance and transaction approval protocols.
Tax Reporting
Transactions under MCC 5231 may be subject to IRS reporting, particularly if purchases involve significant amounts for home renovations that could impact tax deductions or liabilities.