Visa Requests Deactivation of the Digital Media Merchant Category Code for “Meme Coin Trading”; Cashback Loophole Set to Be Closed
Visa is moving to close a payment-classification loophole, requiring payment processors to stop labeling meme coin transactions under merchant category code 5815 (digital media). Going forward, these transactions must be processed according to standard cryptocurrency purchase rules. The issue originated with crypto payment infrastructure provider Crossmint’s Token Checkout service, which allows users to bind Visa credit cards and purchase meme coins directly. How the MCC 5815 loophole arose: An
MarketWhisper·10m ago
