Visa, Mastercard, AmEx said they will implement a new merchant category code for the nation's gun retailers, which gun control activists say will help flag potential mass shooters and gun traffickers.
US credit card giants said they will implement a new merchant category code for the nation's gun retailers, which gun control activists say will help flag potential mass shooters and gun traffickers.
American Express said it will follow its usual business practices and work with third-party processors and partners to implement the code,"We are focused on ensuring that we have the right controls in place to meet our regulatory and fiduciary responsibilities, as well as prevent illegal activity on our network," the company said in a statement Sunday.
Nearly every retail item has a merchant category code - prior to Friday's decision by the ISO, gun store sales were classified under a general merchandise or sporting goods category.
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Credit card companies will adopt new sales code for gun transactionsUS credit card giants said they will implement a new merchant category code for the nation’s gun retailers, which gun control activists say will help flag potential mass shooters and gun traffickers.
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Credit card companies will adopt new sales code for gun transactionsThey say it will help better track suspicious surges of gun sales that could be a preclude to a mass shooting.
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Credit card companies will adopt new sales code for gun transactionsThey say it will help better track suspicious surges of gun sales that could be a preclude to a mass shooting.
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Credit Card Sales at Gun Stores Would Be Flagged Under New CodeAn organization that sets standards for business transactions has voted to create a special code for gun stores to use when processing credit and debit card transactions, a move long sought by gun safety advocates who say it will help law enforcement officials spot suspicious purchases. The decision by the group, the International Organization for Standardization, or ISO, is likely to set off a political firestorm in Washington and around the country as well as a debate among banks and companies
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