Mastercard grants extra-low rates to nonprofits classified as “charitable or social service organizations”
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.
- Only Charitable and Social Service organizations are eligible (MCC 8398). Churches, schools, associations, and other nonprofits are not eligible for this rate category.
- Magnetic stripe, contactless, or chip data read, or key-entered, obtain customer’s signature when face-to-face.
- Authorize and settle within 2 days.
- Obtain and pass 1 valid electronic authorization.
What are the rates?
Regulated Debit – 0.05% + $0.22
Downgrade: This card type does not downgrade.
Only registered charities with an MCC of 8398 are eligible.