CHI SAFE Merchant Category Codes


On Nov. 24, CHI SAFE proposed change to classification of bank cards.


  • CHI SAFE issued notice proposing to update the classification of merchant category codes for domestic bank cards used overseas, to improve forex management of cards.
  • Changes
  • Changes made to update and improve MCC classification; release 344 new categories.
  • Improve MCC update mechanism; SAFE will update and publish the MCC classification catalog based on the adjustment of MCC by various bank card clearing institutions.
  • Effectiveness
  • The deadline for feedback is Dec. 4, 2023.
  • Mar. 2024 Implementation
  • On Mar. 22, 2024, CHI SAFE published a notice to implement the updated classification of merchant category codes for domestic bank cards used overseas, effective May 1, 2024.
  • Adds 345 merchant category codes, optimizes MCC classification update mechanism.

Regulators CHI SAFE
Entity Types Bank
Reference RN SAFE No. 15 (2024(, 3/22/2024; Nt, CP 11/24/2023
Functions Financial; Reporting; Risk; Treasury
Countries China
Category
State
Products Banking; Cards; Clearing; Forex
Regions AP
Rule Type Final
Rule Date 11/24/2023
Effective Date 5/1/2024
Rule Id 192478
Linked to N/A
Reg. Last Update 3/22/2024
Report Section International

Last substantive update on 03/26/2024