Hotels, Lodging merchants, and auto-rental merchants have special interchange rates from Visa. Because these merchants often take “extended authorizations” where transactions may be altered later on, there are different requirements. Visa allows for a longer authorization time-frame for these merchant types, but you’re required to submit additional information to take [...]
Because lodging and auto-rental merchants have unique needs, there’s a special rate category designed for them. These merchants take extended authorizations – meaning the card may be authorized weeks before the sale is finalized. Similarly, final amounts of the sale are often different from the original authorization. For “regular” merchants, this would [...]
Why are Lodging/Auto-Rental merchants different?Many merchants and customers are unaware that Lodging and Auto-rental companies have different requirements for credit card processing. You may be asking yourself… why? The main reason is due to the fact that these merchant types allow for credit cards to have extended authorizations. Think about the last [...]
What Does MCC Stand For?A Merchant Category Code is used by Visa/Mastercard/Discover to classify different businesses that accept their cards. By defining a specific MCC code for each business, the card associations are able to regulate what types of cards are accepted, what types of interchange classifications are granted, and how [...]