ISO 18245 is an ISO

International Organization for Standardization

The International Organization for Standardization , widely known as ISO, is an international standard-setting body composed of representatives from various national standards organizations. Founded on February 23, 1947, the organization promulgates worldwide proprietary, industrial and commercial...

 standard concerning the assignment of Merchant Category Code

Merchant Category Code

A Merchant category code is a four-digit number assigned to a business by MasterCard or VISA when the business first starts accepting one of these cards as a form of payment. The MCC is used to classify the business by the type of goods or services it provides. In the US it can be used to...

s (MCC) in retail financial services.

These are used to control usage of corporate credit card

Credit card

A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...

s. MCCs are assigned by merchant type (e.g. one for hotel

Hotel

A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...

s, one for office supply

Office Supply

Office Supply is a New Wave band consisting of three keyboardists. The band has successfully released their debut album Work in Progress, on the independent record label Toaster Records on April 30, 2006...

 stores, etc), with each merchant being assigned an MCC by the bank

Bank

A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...

. Corporation

Corporation

A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...

s can then control which MCCs their employees may use their corporate cards at, and this is enforced through the authorisation system.

They are 4 digits in length. For example, MCC 5967 represents 'Inbound
telemarketing merchants'.

New MCCs can be applied for through TC68, using this form. They are generally reserved for merchant categories having at least $10 million annual revenue.