MCC 5311 refers to department stores, which offer a wide range of products such as clothing, electronics, home goods, and more, often organized into distinct sections for convenient shopping experiences.
Interchange Fee
Interchange fees for department store purchases (MCC 5311) typically range from 1.2% to 2.9%, varying by card type (credit or debit), issuer agreements, and additional promotional arrangements.
Cashback Rewards
Credit card holders often receive 1-3% cashback for department store purchases. Specialized store cards may offer higher percentages or exclusive perks for frequent customers.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors on MCC 5311 transactions, beyond typical transaction and compliance standards.
Tax Reporting
The IRS does not impose specific taxes on department store purchases under MCC 5311, apart from regular state and local sales taxes, which vary by location.