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Fixed Acquirer Network Fee aka Fan Fee and MCC Merchant Category Code


Apparently starting in April Visa started charging an additional fee per month to merchants called a FAN fee and its a bit confusing as to how they determine how to charge you the fee.  Can range from $2 up to $15 or even $35/month.  With many variables. 

I found this website with lots of information

Visa also determines your fee based on the IRS 1099 form Box #2, Merchant Category Code

I received one of these forms for 2011 taxes and they have me listed at code 5944 which is for  Jewelry Stores, Watches, Clocks, and Silverware Stores.

As fellow artists what code should we be using? We don't have brick/mortar shops,  Can't find one related to Art Shows or Direct Sales.

Based on the information i'm reading on this website I've determined they are charging me as if I'm an internet business (no-card present business), and maybe with multiple locations.  (Will be calling in the morning.)

So my question to you is, has anyone found a problem with what your being charged and/or code they given you?  As a jeweler is this the appropriate MCC code?  Also, is it right to be considered multiple locations even though we actually move the 1 shop to different locations (show to show)? 

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What code do you put down on your Income Tax return?

I've used code 454390

There are two different sets of codes:  the older SIC and the newer NAICS, which has actually replaced the SIC codes.  You can tell the difference in that the SIC codes have 4 digits and the NAICS codes have 6 digits and up, which allow NAICS to be more industry-specific.  I'm not sure why your processor is still using SIC, but there are equivalents across NAICS (what you put on your tax return) and SIC (what you processor is using).

SIC code 5944 is correct for jewelry stores.  I'm thinking they stuck you in here because the SIC root code 59 is for miscellaneous retail.  The equivalent NAICS code for your taxes would be 448310.

NAICS code 454390 is for other direct selling establishments, including bazaars (ie: temporary stands) and street vendors other than food.  The equivalent SIC to give your processor is 5963.

I file my taxes under NAICS 711510 - independent artists.  The equivalent SIC code is 7383.

I am also getting dinged for the FAN, about $2 on a VISA transaction.  I'm riding out my cell phone contract 'til it ends in December so I can upgrade to a smartphone and a Square.

Good luck!


Thanks Jackie, that helps greatly!


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