MCC 7622 represents businesses providing repair services for electronic devices, ranging from consumer electronics to specialized equipment.
Interchange Fee
The typical interchange fee for transactions under MCC 7622 ranges from 1.6% to 3.1%, subject to the card network and terms between merchants and issuers.
Cashback Rewards
Cashback rates may vary from 0.5% to 2.0% based on the cardholder’s specific rewards program, applicable to purchases at electronics repair shops.
Rules and Restrictions
There are no specific rules or restrictions imposed by payment processors for MCC 7622, aside from general guidelines for service transactions.
Tax Reporting
Buyers may be subject to tax reporting based on applicable federal, state, or local regulations for services provided by electronics repair shops. Refer to IRS guidelines for further clarification.