|
ISO 18245
ISO 18245 is an ISO standard concerning the assignment of Merchant Category Codes (MCC) in retail financial services. These are used to control usage of corporate credit cards. MCCs are assigned by merchant type (e.g. one for hotels, one for office supply stores, etc.), with each merchant being assigned an MCC by the bank. Corporations can then control which MCCs their employees may use their corporate cards at, and this is enforced through the authorization system. They are 4 digits in length. For example, MCC 5967 represents 'Inbound telemarketing merchants'. New MCCs can be applied for through TC68 ISO/TC 68, Technical Committee 68 on Banking, Securities and other Financial Services, is a technical committee formed within the International Organization for Standardization (ISO), of Geneva, Switzerland, tasked with developing and maintaining .... They are generally reserved for merchant categories having at least $10 million annual revenue. External linksISO 18245:2003 Ret ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Organization For Standardization
The International Organization for Standardization (ISO ) is an international standard development organization composed of representatives from the national standards organizations of member countries. Membership requirements are given in Article 3 of the ISO Statutes. ISO was founded on 23 February 1947, and (as of November 2022) it has published over 24,500 international standards covering almost all aspects of technology and manufacturing. It has 809 Technical committees and sub committees to take care of standards development. The organization develops and publishes standardization in all technical and nontechnical fields other than electrical and electronic engineering, which is handled by the IEC.Editors of Encyclopedia Britannica. 3 June 2021.International Organization for Standardization" ''Encyclopedia Britannica''. Retrieved 2022-04-26. It is headquartered in Geneva, Switzerland, and works in 167 countries . The three official languages of the ISO are English, Fren ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Category Code
A Merchant Category Code (MCC) is a four-digit number listed in ISO 18245 for retail financial services. An MCC is used to classify a business by the types of goods or services it provides. Assignment of MCCs MCCs are assigned either by merchant type (e.g., one for hotels, one for office supply stores, etc.) or by merchant name (e.g., 3000 for United Airlines) and is assigned to a merchant by a credit card company when the business first starts accepting that card as a form of payment. The same business may code differently with different credit cards, and different sections or departments of a store may code differently. Uses of MCCs 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 * by card networks to define rules and restricti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Card
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges). The card issuer (usually a bank or credit union) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups: consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards (stainless steel, gold, palladium, titanium), and a few gemstone-encrusted metal cards. A regular credit card is different from a charge card, which requires the balance to be repaid in full each month or at the end of each statement cycle. In contrast, credit cards allow the consumers to build a continuing balance of debt, subject to interest being charged. A credit car ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a refrigerator and other kitchen facilities, upholstered chairs, a flat screen television, and En-suite, en-suite bathrooms. Small, lower-priced hotels may offer only the most basic guest services and facilities. Larger, higher-priced hotels may provide additional guest facilities such as a swimming pool, business centre (with computers, printers, and other office equipment), childcare, conference and event facilities, tennis or basketball courts, gymnasium, restaurants, day spa, and social function services. Hotel rooms are usually Room number, numbered (or named in some smaller hotels and Bed and breakfast, B&Bs) to allow guests to identify their room. Some boutique, high-end hotels have custom decorated rooms. Some hotels offer meals as part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Supply
Office supplies are consumables and equipment regularly used in offices by businesses and other organizations, by individuals engaged in written communications, recordkeeping or bookkeeping, janitorial and cleaning, and for storage of supplies or data. The range of items classified as office supplies varies, and typically includes small, expendable, daily use items, consumable products, small machines, higher cost equipment such as computers, as well as office furniture and art. Typical products Office supplies are typically divided by type of product and general use. Some of the many different office supply products include *Blank sheet paper: various sizes from small notes to letter and poster-size; various thicknesses from tissue paper to 120 pound; construction paper; photocopier and inkjet printer paper; *Preprinted forms: time cards, tax reporting forms (1099, W-2), "while you were out" pads, desk and wall calendars; *Label and adhesive paper: name tags, file folder la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporation
A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and recognized as such in law for certain purposes. Early incorporated entities were established by charter (i.e. by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: by whether they can issue stock, or by whether they are formed to make a profit. Depending on the number of owners, a corporation can be classified as ''aggregate'' (the subject of this article) or '' sole'' (a legal entity consisting of a single incorporated office occupied by a single natural person). One of the most att ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TC68
ISO/TC 68, Technical Committee 68 on Banking, Securities and other Financial Services, is a technical committee formed within the International Organization for Standardization (ISO), of Geneva, Switzerland, tasked with developing and maintaining international standards covering the areas of banking, securities, and other financial services. As the standards organization under ISO responsible for the development of all international financial services standards, ISO/TC 68 plays a key role in the development and adoption of new technologies in the banking, brokerage and insurance industries. Many of its current work projects involve developing ecommerce standards such as better online security for financial transactions, XML standards for financial transactions and standards to reduce the cost and delays of international financial transactions. The membership of ISO/TC 68, consists of more than 30 organizations assigned by participating national standards bodies plus additional inter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Annual Revenue
Annual may refer to: *Annual publication, periodical publications appearing regularly once per year **Yearbook **Literary annual *Annual plant *Annual report *Annual giving *Annual, Morocco, a settlement in northeastern Morocco *Annuals (band), a musical group See also * Annual Review (other) Annual Review or Annual Reviews may refer to: * An annual performance appraisal or performance review of an employee * Annual Reviews (publisher), a publisher of academic journals * The ''Annual Reviews'' series of journals is published by Annua ... * Circannual cycle, in biology {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
