VISA Inc., one of the leading companies in the payment card industry, announces an increase in the annual fee for merchants considered high-risk. Effective April 1, 2024, the annual registration fee for these merchants will increase from the original $500 to $950.
This applies to all accounts registered under certain Merchant Category Codes (MCC). MCCs are four-digit codes used by credit card associations to classify merchants by type of business, enabling efficient payment processing.
MCC CODE: CLASSIFICATION
5967: Adult Content
7273: Dating and Escort Services
7995: Gambling
5122, 5912: Pharmacies
6051, 6012: Crypto Merchants: exchanges, wallet providers, on-ramp providers (card absent)
4816: Cyberlockers and similar remote digital file sharing services (card absent)
5816: Games of Skill (card absent)
6211: High Integrity Risk Financial Trading Platform (card absent)
5968: Subscription “Negative Option” Merchants (card absent)
5993: Tobacco Sales (cross-border card absent)
5966: Outbound Telemarketing (card absent)