How to Sell Merchant Services: A Step-by-Step Guide for Every Merchant Services Sales Agent

The United States hotel market size is estimated at $263.21 billion. Most of these companies will be assigned merchant category code (MCC) 7011. Because hospitality transactions involve cancellations, advance bookings, incremental adjustments, and no-show charges, they require specific types of payment processing services. The MCC 7011 (hotels) classification has a direct impact on interchange rates, […]

The United States is the fifth-largest producer of tobacco in the world. In a typical year, the country produces around 359 million pounds of tobacco. While some of that tobacco is sold abroad, a great deal of it ends up being sold to American consumers.  If you are considered a cigar store or tobacco shop, […]

Merchant category code (MCC) 5812 is given to restaurants and eating places by the merchant’s payment processor or acquirer. From fraud monitoring to credit card rewards, this code plays a major role in your company’s payment processing setup. It can affect your approval rates, processing fees, and dispute patterns.  To learn more about how MCC […]

PayCompass was founded by Agents, for Agents. We know what it’s like to be out making rounds without support or resources. We know that the smallest advantage can change an entire outcome. That’s why every question, every concern, and every obstacle our Agents voice is taken into account: how can we make this easier? That […]

Each year, more than $1.5 trillion is spent in the United States on vehicles and parts. Due to the high-value transactions, deposits, financing, and refund complexity involved, the MCC 5511 (automobile/cars) designation is considered moderate to elevated risk by payment processors. If your company falls under this code, understanding how to improve your account approval […]

If you run a travel-related business, you will be assigned a specific merchant category code known as MCC 4722. This code represents the specific risks and challenges associated with the travel industry. From how customers receive credit card rewards to the payment processing fees you pay, this code can affect all aspects of your payment […]