A Merchant Category Code (MCC) is a four-digit code that classifies businesses based on the products or services they provide. These codes help payment processors, card issuers, and financial institutions determine the nature of a business.

MCCs can be assigned either manually or automatically by payment processors (such as credit card networks). However, there is no single, universal MCC list—each network may have its own version. This can result in inconsistencies, as MCC lists are frequently updated with new codes, removals, or modifications.

For more details, refer to Stripe’s standard MCC list. Keep in mind that MCC assignments can vary between networks, and the codes are subject to periodic updates.

In Anchor’s Know Your Business (KYB) process, powered by Persona, Stripe’s standard MCC list is used to classify businesses.

When you select your industry during KYB, an MCC is assigned accordingly. This MCC is then shared with payment processors and later referenced in tax-related documents (such as 1099-K Forms).

You can find your assigned MCC code in Anchor under the Tax Information section on the Business Details page.