MCC 8351 encompasses a variety of services related to child care, including daycare centers, preschool programs, and other child-focused caregiving offerings.
Interchange Fee
Interchange fees for transactions under MCC 8351 typically range between 1.5% to 3%, varying by card issuer, card type, and transaction specifics.
Cashback Rewards
Select credit card issuers may offer cashback incentives for transactions under MCC 8351, with rewards typically ranging from 0.5% to 2% based on their program terms and promotions.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors for transactions classified under MCC 8351.
Tax Reporting
Child care payments under MCC 8351 may be eligible for certain tax credits or deductions. For accurate guidance on tax implications, it is recommended to consult a tax professional or refer to IRS guidelines.