7995 coding

[Susan]

Hi,

I do have a question for the "professionals" around. Now there are a lot of ads on the net promoting credit card processing either without coding or telling the merchant that there is no problem with coding. Well, on the casino's side that might work, but what about the player's bank/credit card processor ? Do not Credit Card issuers with us in Europe expect that the cards are properly coded, when being charged by a casino/processor from overseas ? Or is the coding only required for the processor of the merchant ? I guess, I have not quite understood that whole matter. Can anybody help ?

 

[mary]

In the US, if a a merchant or aggregator is found to be miscoding, they are blocked from further transactions. Funds in escrow may be seized.

I have no idea what happens in Europe; depending on your specific country, there may be no need to disguise 7995 transactions.

 

[GrandMaster]

Some card issuers treat gambling transactions as cash advances, so there is no interest-free period and the interest rate is often higher than on purchases. I am sure they would insist on correct coding.

 

[nafanny29]

I have noticed harrods uses code 5999 rather than 7995 by the way!!!

Which is:
MCC 5999 Fireworks Stores
Gravestones/Monuments/Tombstones
Sales and Installation
Ice Dealers
Retail Stores Not elsewhere classified
Speciality Retail Stores - Miscellaneous
Trophy Sales

Bit strange!!!