5947
Card Shops, Gift, Novelty, and Souvenir Shops
MCC 5947 encompasses stores primarily selling cards, gifts, novelty, and souvenir items, catering to a wide variety of occasions and themes.
Interchange Fee
Interchange fees for transactions at card shops and gift stores generally range between 1.3% and 2.9%, depending on the card type and issuer specifics.
Cashback Rewards
Many credit card programs offer 1-3% cashback rewards on purchases made at gift and novelty stores, depending on the issuer's promotional offerings and reward structure.
Rules and Restrictions
There are no specific rules or restrictions imposed by payment processors for transactions classified under MCC 5947.
Tax Reporting
The IRS does not impose specific tax requirements on buyers for purchases made under this MCC. However, applicable sales tax may be charged as per local laws.