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Visa is changing its approach to processing transactions with memcoins that passed through Crossmint. Previously, such purchases could fall under the MCC 5815 code — it was intended for digital goods and media. For the bank, it looked like buying content, not cryptocurrencies, so the client could receive regular points or cashback. Now Visa is demanding that this practice be stopped, and payment processors have been given a transitional period, which, according to Crypto in America, is already coming to an end.

Visa does not prohibit the purchase of memcoins with a card, but the classification is changing. According to the new rules, crypto purchases must be marked as MCC 6012 or MCC 6051, depending on the type of seller. This makes the transaction transparent for the bank and the payment network. You can still buy a token, but you should no longer wait for cashback as a digital product.

The reason for the changes was the situation with JPMorgan Chase. In the Chase Ultimate Rewards program, cryptocurrency refers to cash-like transactions that do not give bonuses. When Chase noticed the non-standard classification of the memcoin transaction, the bank challenged it in front of Visa. After that, Visa notified the infrastructure participants, including Checkout.com that the digital media code is no longer suitable for such purchases.

The SEC added context: in February 2025, its corporate finance department stated that some memcoins look like collectibles and are not generally considered securities. But this is only the position of the employees, not an official act. Visa has chosen a practical path: if a transaction concerns a crypto asset, it should be handled accordingly.

Memcoins remain available for card purchase, but the old cashback scheme is going away. The classification is becoming stricter, and banks with processors have less room for controversial interpretations.