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Merchant controls offer a simple solution for a complex issue: ensuring business funds are spent appropriately.
Float gives Administrators the ability to limit card spending to specific categories of merchants, so any transactions from disallowed merchant types are declined immediately. Controls can be applied to virtual and physical cards.
Adding Merchant Category Controls to Cards
How to See Permitted Categories as a Cardholder
What happens if a Card is Used at a Merchant in a Restricted Category?
How does Float determine a merchant’s category?
How accurate are Merchant Category Codes?
Can I restrict individual MCCs or specific merchants?
Adding Merchant Category Controls to Cards
By default, all merchant categories are enabled. Any categories you’d like to restrict will need to be deselected.
When creating a new card: Click “Add control” under “Merchant Controls”, and un-check the categories of merchants you do not want to allow.
To add controls to an existing card: Navigate to Cards > Select Specific Card > Card Settings > Select "All Categories Allowed". This will open a pop up that will allow you to edit the merchant category controls and un-check categories you do not want to allow.
How to See Permitted Categories as a Cardholder
Card owners can see the categories of merchants allowed by clicking "Categories" under the Card Settings.
What happens if a Card is Used at a Merchant in a Restricted Category?
Any transactions attempted at merchants outside the approved category list will be automatically declined. We'll let the cardholder know the reason for the decline immediately by email, or sms if their phone is connected to the account.
When checking on the declined transaction at app.floatfinancial.com, the reason for the decline will be displayed as “Merchant category not approved for this card”
How does Float determine a merchant’s category?
Merchant Category Codes (MCC) are assigned by the card processing network when a merchant is first set up to accept payments through that network, and are typically assigned based on the industry a merchant operates within. There are over 800 different MCC codes in use.
How accurate are Merchant Category Codes?
MCCs are general descriptions of merchant types/ industries, and may not cover all products or services offered by merchants. For example:
- Gas stations that sell other goods would still be categorized as Gas & Charging.
- Car dealerships likely provide vehicle maintenance services.
Can merchants be in multiple categories?
Yes. Some merchants provide a wide variety of services and may have opted to use multiple MCCs to define their sales. As such, two distinct purchases at the same merchant might be categorized differently.
For example, Uber’s taxi service falls under the Transportation category, while its food delivery service falls under the Restaurant category.
Using multiple MCCs is optional for the merchant and many opt to use a single category to define all of their sales.
Is this a required field?
Can I restrict individual MCCs or specific merchants?
No. Restrictions can only be applied at the Category level, not to specific MCC codes. Specific merchants cannot be restricted.