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The Merchant Category Code (MCC) 3703 is specifically assigned to **Residence Inns**, a type of lodging that offers accommodations similar to hotels but often with more home-like amenities. This MCC is recognized by major payment brands such as Visa, Mastercard, and others, ensuring that transactions at Residence Inns are accurately categorized and processed efficiently. By identifying businesses under this code, financial institutions and payment processors can streamline transactions and provide better services to both merchants and consumers.