MCC 7296 pertains to establishments primarily engaged in the rental of costumes, uniforms, and formal wear for special occasions and theatrical events.
Interchange Fee
Interchange fees for transactions under MCC 7296 typically range from 1.3% to 2.6%, depending on the card network, card type, and terms of the merchant agreement.
Cashback Rewards
Card issuers may offer varying cashback incentives for clothing rental services. Generally, these are eligible for standard cashback rates without category-specific bonuses.
Rules and Restrictions
There are no specific rules or restrictions imposed by payment processors that are unique to MCC 7296. General industry regulations and compliance measures still apply.
Tax Reporting
The IRS may require reporting for transactions related to MCC 7296, particularly when associated with business expenses or deductible events. Customers should consult tax professionals for clarity on applicable reporting obligations.