Publication Date: November 2023
As the growth of electric-vehicle charging (EVC) continues to increase and more issuers are offering rewards programs for consumers selecting sustainability solutions, it is critical that the correct merchant category code (MCC) is assigned for EVC transactions. The MCC 5552 has been available for the last few years but given it is a new emerging merchant segment, acquirers and merchants may not be aware of the appropriate MCC and are misclassifying a merchant’s primary business. Misuse of the MCC can lead to transaction declines, consumer complaints for not receiving the appropriate rewards/cash-back amounts and the inability for the ecosystem to track and trend growth as well as affects the transaction integrity.
The following infographic provides best practices and education on using the correct EV MCC.
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