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The Merchant Category Code (MCC) 3407 is specifically designated for **Car Rental Agencies**. This code categorizes businesses that provide car rental services, including various types of vehicles and rental options. It helps payment processors and card issuers to accurately identify and manage transactions related to car rentals, ensuring proper fee structures and risk assessments. This classification is crucial for both tax reporting and payment processing purposes, providing a standardized way to classify businesses in the automotive rental industry.