He predicts the House will pass the measure if it comes up for a vote. âNine-tenths of these guys know the Russians interfered in our election,â he said. âThe question is will the White House pressure the House Republican leadership not to bring this bill to a vote.â
Merchant Category Codes. MasterCard, Visa, and online debit card networks (card types 013-018, 021-027, and 029-. 030) use a 4-digit numeric merchant category code (MCC) to identify the type of business. conducted by a merchant. Merchant category codes are used when a new merchant account is added to the System. They are also used in warning bulletins, authorizations, chargebacks, settlement, and in certain. types of transactions classified as âquasi-cashâ transactions by Visa. Merchant category groups (MCGs) are used with the Commercial Market Analysis product and. are general categories under which merchant category codes fall.
TERM DEFINITION Acquirer Third-party service provider that acquires and processes payment transactions for merchants, manages the relationship with the global and regional payment networks on the merchantâs behalf (including interchange qualifying, chargeback disputes and fees to networks and issuers), and manages the transaction database. The acquirer connects merchant transactions to payment networks by (1) providing. the POS device; and/or (2) securely routing transaction from POS device or from POS payment gateway to. payment network; (3) managing transactions from authorization to clearing to settlement.