MCC 7230 is used for beauty and barber shops, covering services like haircuts, styling, and other grooming services.
Interchange Fee
Interchange fees for transactions under MCC 7230 generally range from 1.4% to 3%, depending on card issuer terms, transaction size, and other factors.
Cashback Rewards
Certain card issuers offer cashback rewards for beauty and barber shop transactions under MCC 7230, typically ranging from 1% to 5% based on specific cardholder agreements.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors for MCC 7230. Standard transaction processing policies apply.
Tax Reporting
The IRS may apply tax reporting requirements on transactions depending on the nature of services purchased. Please consult a tax professional for specific details applicable to your case.