Visa has a special rate category specifically designed for nonprofits. Not all nonprofits will qualify – but if you’re classified with the MCC of 8398, or as a “Charity or Social Service” organization, then you’ll qualify for far-reduced interchange rates. Qualifications Only Charitable and Social Service organizations are eligible (MCC [...]
Mastercard has a special rate category specifically designed for nonprofits. Not all nonprofits will qualify – but if you’re classified with the MCC of 8398, or as a “Charity or Social Service” organization, then you’ll qualify for far-reduced interchange rates. Qualifications Only Charitable and Social Service organizations are eligible (MCC 8398). [...]
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 [...]