IS 16273 : 2024/ISO 18245 : 2023 Retail Financial Services - Merchant Category Codes
NATIONAL FOREWORD
This Indian Standard (First Revision) which is identical to ISO 18245 : 2023 'Retail financial services - Merchant category codes' issued by International Organization for Standardization (ISO) was adopted by the Bureau of Indian Standards on the recommendations of Banking and Financial Services Sectional Committee, and approval of the Service Sector Division Council.
This standard was first published in 2014 as an identical adoption of ISO 18245 : 2003 'Retail financial services - Merchant category codes' under dual numbering system. This revision has been undertaken to align the Indian Standard with the latest version of ISO 18245 that is, ISO 18245 : 2023 'Retail financial services - Merchant category codes'.
This revision cancels and replaces the previous edition, of which it constitutes a minor revision. The main changes to the previous edition are as follows:
a) Restructuring to facilitate maintenance of the code values by a new ISO 18245 maintenanceagency (MA).
The text of ISO standard has been approved as suitable for publication as an Indian Standard without deviations. Certain conventions are, however, not identical to those used in Indian Standards. Attention is particularly drawn to the following:
a)Wherever the words 'International Standard' appear referring to this standard, they should beread as 'Indian Standard'; and
b)Comma (,) has been used as a decimal marker while in Indian Standards, the current practice isto use a point (.) as the decimal marker.