What is MCC 7802: Government-Licensed Online Casinos (Online Gambling)

What is MCC 7802: Government-Licensed Online Casinos (Online Gambling)

Merchant Category Codes (MCCs) classify businesses according to the goods or services they provide. This article answers the question: What is MCC 7802: Government-Licensed Online Casinos (Online Gambling)? and provides answers to common questions and challenges related to online gambling payments.

The types of businesses under MCC 7802 include:

• Online Casinos: Platforms offering games like slots, blackjack, and poker.
• Gambling Websites: Sites facilitating online betting and games of luck, fully licensed by appropriate government bodies.
• Wagering Platforms: Entities enabling wagers on various events ranging from sports to other specific occurrences.

Understanding Challenges and Compliance

• Regulatory Compliance: Online gambling is a sector under extensive governmental oversight. MCC 7802 aids merchants, payment processors, banks and networks in verifying that transactions comply with legal standards and regulations.
• Enhanced Transaction Monitoring: Financial institutions may classify MCC 7802 transactions as high-risk, necessitating robust anti-fraud and anti-money laundering measures. Additionally, card acquirers and online gambling payment gateways may charge different fees due to the enhanced risk and compliance requirements involved. Some payment solutions may also bundle payments with enhanced features such as identity verification, fraud monitoring and automated pre-dispute resolution to meet these businesses’ requirements.
• Payment Processing: Online gambling and online casino websites are often challenged to find reliable, cost-effective payment processors. Purpose-built solutions may offer higher authorisation rates and long-term support. Payment consultants and referral agents often work with this industry to identify the best payment gateways for online gambling business requirements.

MCC 7802 applies to Visa and Mastercard transactions. Other codes or identifiers may apply to different online gambling payment methods.