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.
MCC codes in Anchor
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 business category and sub-category during the KYB process, the corresponding MCC is assigned. 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.
You can update your MCC code in Anchor by updating your tax information.