MCC 7298 covers establishments providing health and beauty services, including spas and wellness treatments.
Interchange Fee
Typical interchange fees for transactions under MCC 7298 range from 1.5% to 2.9%, varying by card type, network, and specific agreements between merchants and payment processors.
Cashback Rewards
Cashback rates for transactions at health and beauty spas may depend on card issuer promotions and vary across different card networks and types, offering anywhere from standard rewards to bonus offers during certain periods.
Rules and Restrictions
There are no specific rules or restrictions imposed by payment processors exclusive to MCC 7298 beyond general industry standards and compliance regulations.
Tax Reporting
Purchases from health and beauty spas under MCC 7298 may require IRS tax reporting for certain transactions, depending on their nature, and may also impact deductibility for business-related expenses.