The Jewelry Store Billed Like A Grocery Store

4 merchants (MER-101 through MER-104) are registered under MCC 5411 (Grocery Stores, 1.2% interchange), but their business license on file shows "Jewelry & Watches" (2.5% interchange) with no compliance exception approved — $2,795.00 in underpaid interchange across $215,000.00 of transaction volume. All 4 were onboarded by the same sales rep, REP-08. MER-022 also shows a registered MCC that does not exactly match its license category ("Grocery & Pharmacy Combo"), but that combo category has a documented, approved compliance exception keeping it at the grocery rate — not a misclassification.