MCC 5960 pertains to businesses involved in the direct marketing of insurance services. This classification covers a broad spectrum of insurance-related activities marketed directly to consumers.
Interchange Fee
Typical interchange fees for transactions classified under MCC 5960 range from 1.5% to 2.5%, depending on the card network and specific agreements with the issuer.
Cashback Rewards
Cashback rates may vary for purchases associated with MCC 5960, typically ranging from 0.5% to 1.5%, depending on the credit card issuer and any promotional offers.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors for transactions classified under MCC 5960.
Tax Reporting
Standard sales taxes may not apply to insurance service purchases, but buyers should consult with tax professionals to understand any relevant state and federal tax implications.