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  2. How to find a business merchant category code - AOL

    www.aol.com/finance/business-merchant-category...

    A merchant category code — or an MCC — is a four-digit number used by credit card companies to classify businesses for payments, taxation and rewards purposes.

  3. Merchant category code - Wikipedia

    en.wikipedia.org/wiki/Merchant_category_code

    An MCC reflects the primary category in which a merchant does business and may be used: to determine the interchange fee paid by the merchant, with riskier lines of business paying higher fees; by credit card companies to offer cash back rewards or reward points for spending in specific categories [4] [5]

  4. Overpayment scam - Wikipedia

    en.wikipedia.org/wiki/Overpayment_scam

    The scammer tells the seller (victim) that to complete the transaction, the seller needs to upgrade their account to a business account. The scammer sends the victim a bogus payment notice for the item's price plus what they claim is a business account upgrade fee, then asks the victim to buy the upgrade from someone impersonating the payment ...

  5. Can a business charge for using a credit card? - AOL

    www.aol.com/finance/business-charge-using-credit...

    For example, a business that typically accepts online payments may offer the option to pay by phone for a fee. Convenience fees are legal in all 50 states but must be clearly communicated at the ...

  6. Merchant account - Wikipedia

    en.wikipedia.org/wiki/Merchant_account

    A merchant account is a type of bank account that allows a seller, known as the merchant, to accept payments by debit or credit cards.A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions.

  7. eBay Announces Mandatory Collection of Social Security ...

    www.aol.com/finance/ebay-announces-mandatory...

    eBay announced on Dec. 20 that the online marketplace will be required to collect Social Security numbers -- or Individual Tax Identification numbers -- from all sellers who sell product (over the...

  8. E-commerce payment system - Wikipedia

    en.wikipedia.org/wiki/E-commerce_payment_system

    There are varied types of electronic payment methods such as online credit card transactions, e-wallets, e-cash and wireless payment system. [5] Credit cards constitute a popular method of online payment but can be expensive for the merchant to accept because of transaction fees primarily.

  9. PayPal, eBay hassling customers to report sales amid IRS ...

    www.aol.com/finance/ticketmaster-paypal-ebay...

    Editor’s Note: Taxpayers who received 1099-K forms this year do not have to report payments of less than $600 for the 2022 tax year. They may have to report that tax information for the 2023 tax ...

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