MCC 7623 is designated for establishments specializing in the repair and maintenance of air conditioning and refrigeration units, serving both commercial and residential needs.
Interchange Fee
Interchange fees for transactions under MCC 7623 typically range between 1.7% and 3.2%, subject to card network policies and merchant agreements.
Cashback Rewards
Cashback rates for purchases may vary from 0.5% to 2.5% depending on the cardholder's specific rewards program for air conditioning and refrigeration repair services.
Rules and Restrictions
There are no special rules or restrictions from payment processors specifically for MCC 7623, beyond the general guidelines for service-based transactions.
Tax Reporting
Tax implications for purchases in this category may vary depending on applicable state and federal regulations. Buyers may need to consult IRS guidelines regarding the tax treatment of services under MCC 7623.