MCC 5972 is used for transactions conducted at stamp and coin stores, including sales of rare or collectible stamps and coins.
High Risk
This MCC is considered high-risk for chargebacks and disputes due to the nature of transactions involving rare or collectible items, which can involve significant sums of money and subjective valuations. Customers may dispute charges if the items do not meet their expectations or if there are disagreements over the authenticity or condition of the items. However, this MCC is not typically blocked by card issuers.
Interchange Fee
Typical interchange fees for purchases at stamp and coin stores can range from 1.8% to 3.4%, depending on the payment network and specific card product used.
Cashback Rewards
Some credit cards offer cashback between 1% and 3% on purchases from stamp and coin stores, subject to issuer terms and applicable limits.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors for transactions associated with MCC 5972.
Tax Reporting
The IRS does not have specific tax requirements for buyers purchasing from stamp and coin stores; general sales taxes may apply based on regional regulations.