5940
Bicycle Shops - Sales and Service
MCC 5940 covers transactions related to the sale and servicing of bicycles, bicycle parts, and related accessories.
Interchange Fee
Interchange fees for this MCC can range from 1.5% to 3% based on the type of card (credit, debit, or rewards) and the issuing bank’s policies.
Cashback Rewards
Depending on the card issuer, customers may receive 1% to 3% cashback on purchases made at bicycle shops. Promotional cashback rates may be available for select cards during special offers.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors for transactions classified under MCC 5940.
Tax Reporting
The IRS does not impose direct taxes on buyers for purchases made under MCC 5940. However, applicable state and local taxes may be charged depending on the buyer’s location.