MCC 8042 pertains to transactions for services rendered by optometrists and ophthalmologists, including eye exams, vision care, and other specialized eye treatments.
Interchange Fee
Typical interchange fees for MCC 8042 range from 1.5% to 3.2% based on the card issuer and the type of card used. Healthcare-focused rates or discounts may sometimes apply.
Cashback Rewards
Some credit cards provide cashback or rewards for healthcare and medical services, which may include spending under MCC 8042. Check specific card terms for details.
Rules and Restrictions
There are no special rules or restrictions from major payment processors specific to MCC 8042 transactions.
Tax Reporting
Expenses incurred under MCC 8042 may qualify as deductible medical expenses, subject to IRS guidelines. The IRS does not directly impose taxes on buyers for these services, but tax-deductibility depends on individual circumstances.