MCC 5310 is associated with discount stores, offering a range of products at reduced prices. Typically, these retailers operate with a focus on value pricing, often located in high-traffic shopping areas.
Interchange Fee
Transactions at discount stores under MCC 5310 typically carry interchange fees ranging from 1.3% to 3.2%, varying by card issuer, card type (e.g., basic credit, debit, or premium cards), and terms of processing agreements.
Cashback Rewards
Many credit cards offer 1-2% cashback for purchases at discount stores. However, promotional offers or retail-focused cards may yield higher rewards, enhancing incentives for frequent shoppers.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors for transactions under MCC 5310 beyond standard compliance requirements and transaction processing checks.
Tax Reporting
The IRS does not apply special taxes to buyers for transactions at discount stores under MCC 5310, provided that purchases align with regular consumer tax guidelines and exemptions where applicable.