MCC 5931 refers to establishments primarily engaged in the retail sale of used merchandise and secondhand items.
Interchange Fee
The typical interchange fees for transactions under MCC 5931 range from 1.2% to 2.9%, varying by card type (e.g., credit, debit, or rewards cards) and card issuer policies.
Cashback Rewards
Cashback offers for purchases at used merchandise and secondhand stores often vary, typically ranging from 1% to 5% based on promotional deals or credit card-specific reward programs.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors for processing transactions under MCC 5931.
Tax Reporting
Purchases made under MCC 5931 may be subject to state and local sales taxes as applicable. The IRS does not typically impose direct taxes on buyers for these purchases unless explicitly required under special circumstances.