MCC 4457 pertains to businesses that offer boat rentals and leasing services. This includes short-term rentals, long-term leases, and related services that cater to leisure and commercial boating needs.
Interchange Fee
Interchange fees for MCC 4457 transactions typically range from 1.4% to 3.5%, based on the payment processor, transaction type, and volume. Larger transactions may have tailored fees due to their associated risk and transaction size.
Cashback Rewards
Some credit cards may offer cashback or rewards for payments made to boat rental and leasing services. These rewards often depend on whether such transactions are categorized under travel or recreation spending by the issuer.
Rules and Restrictions
There are no special rules imposed by payment processors specifically for MCC 4457 transactions. Standard rules for card-present and card-absent transactions apply in accordance with card network policies.
Tax Reporting
In the United States, payments made under MCC 4457 for boat rentals and leasing are typically treated as service payments. Depending on the transaction's value, certain reporting obligations to the IRS may apply to service providers, but buyers are generally not directly taxed.