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Platinum Glossary of Terms:
| Terms | Definitions |
| Department Stores | Department stores are defined as all establishments with merchant category code (MCC) 5311. Based on Visa’s description, these are merchants who sell a general line of clothing, home furnishings, furniture, electronics, cosmetics, house wares, and major household appliances. These stores have departments that usually have their own separate checkout counters. However, this does not include stand-alone clothing, home furnishing, furniture, electronics cosmetics, house ware, and appliances stores which are not located inside a department store. Examples* of department stores in the Philippines are: SM Department Store, Rustan’s Department Store, Landmark, Robinson’s Department Store. |
| Dining Establishments | Dining establishments are defined as all establishments with any of the following merchant category codes (MCC): 5812, 5813, 5814. These are merchants who fall under the following descriptions, as prescribed by Visa: • Eating Places/Restaurants: Merchants who prepare food and drinks for immediate consumption, typically on the merchant’s premises. These merchants may provide table service by a waiter or waitress. Examples* in the Philippines are: Pizza Hut, Pancake House, Gloria Maris, TGI Friday’s, California Pizza Kitchen • Bars/Taverns/Lounges/Discos: Merchants who sell alcoholic beverages, such as wine, beer, ale, mixed drinks and other spirits and beverages for consumption on the premises Examples* in the Philippines are: Gerry’s Grill, Grappa’s Ristorante, Embassy • Fast Food Restaurants: Merchants who sell prepared food and beverages for immediate consumption either on the premises or packaged for take-away. Examples* in the Philippines are: Kenny Rogers, Starbucks, McDonald’s. |
| Merchant Category Code (MCC) | A merchant category code is a classification of each establishment arranged between each establishment and its VISA/MasterCard card terminal’s issuing bank. |
*Examples cited are subject to the correct assignment of Merchant Category Codes by the acquiring bank.
IMPORTANT: The Bank shall be bound by the Merchant Category Code designation made by the acquiring bank as prescribed by VISA/MasterCard. |
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