Australia's Macquarie Bank Blocks Credit Card Gambling Transactions

Sydney-based Macquarie Bank has introduced an industry-first block on gambling services for credit card users to improve the “financial wellbeing of its customers”.

Macquarie Group, better known for its global prominence in infrastructure asset management rather than credit cards, has advised Australian customers of its Macquarie Bank subsidiary that their credit cards will no longer approve purchases related to gambling.

From today, Macquarie Bank will block merchant category code (MCC) 7995 — described variously as “betting” and “gambling transactions” by bank MCC lists, and which includes lotteries — in all credit card transactions, spokesperson Sam Dawson told sister publication GamblingCompliance.

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