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The Merchant Category Code (MCC) 3417 is specifically designated for "Automotive Rental and Leasing Services." This code categorizes businesses that provide vehicles for short-term rental, such as car rental companies, leasing services, and other related automotive rental services. MCC 3417 is crucial for payment processing and tax reporting, helping to identify and manage transactions related to these specific services, which are essential for both issuers and merchants in the automotive rental industry.