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7995 coding

Discussion in 'Casino Industry Discussion' started by Susan, Aug 28, 2004.

    Aug 28, 2004
  1. Susan

    Susan Dormant account

    Location:
    Europe
    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 ?
     
  2. Sep 2, 2004
  3. mary

    mary Dormant account

    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.
     
  4. Sep 2, 2004
  5. GrandMaster

    GrandMaster Ueber Meister CAG

    Occupation:
    Mathematician by day, online gambler by night.
    Location:
    UK
    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.
     
  6. Sep 8, 2004
  7. nafanny29

    nafanny29 Dormant account

    Occupation:
    financail adviser
    Location:
    London, England
    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!!! :D
     

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