MCC 7999 is used for transactions related to a wide range of recreation services that are not specifically categorized elsewhere, offering varied entertainment and recreational activities.
Interchange Fee
The interchange fees for MCC 7999 transactions typically range from 1.5% to 3% based on the card type, card network policies, and terms established with the merchant’s acquiring bank.
Cashback Rewards
Cashback rewards and bonus programs for MCC 7999 may be offered by certain credit cards with recreational or entertainment category spending, with specific rates varying per card issuer.
Rules and Restrictions
There are no special rules enforced by payment processors for transactions under MCC 7999. Terms and conditions may vary depending on specific agreements with card issuers.
Tax Reporting
For MCC 7999, IRS tax implications depend on the nature of the recreational service. Purchases related to taxable goods or services may require reporting. Tax obligations can vary based on the specific transaction type.