7523
Parking Lots, Parking Meters, and Garages
MCC 7523 includes services related to parking facilities, parking meters, and garages.
Interchange Fee
The interchange fee for MCC 7523 transactions typically ranges between 1.0% and 2.5%, varying by card network and transaction type.
Cashback Rewards
Cashback rewards for parking services under MCC 7523 often range from 0.5% to 1.5%, subject to the card issuer’s rewards program and promotional offers.
Rules and Restrictions
There are no special rules or restrictions for processing transactions under MCC 7523 beyond standard payment processing requirements.
Tax Reporting
Tax reporting may apply based on local and federal tax laws concerning parking fees and services, and buyers should consult applicable IRS regulations.