Payment processor Visa Inc. said over the weekend that it plans to start separately categorizing sales at gun shops, a major win for gun control advocates who say it will help better track suspicious surges of gun sales that could be a prelude to a mass shooting.
But the decision by Visa, the world’s largest payment processor, will likely provoke the ire of gun rights advocates and gun lobbyists, who have argued that categorizing gun sales would unfairly flag an industry when most sales do not lead to mass shootings. It joins Mastercard and American Express, which also said they plan to move forward with categorizing gun shop sales.
Visa’s adoption is significant as the largest payment network, and with Mastercard and AmeEx, will likely put pressure on the banks as the card issuers to adopt the standard as well. Visa acts as a middleman between merchants and banks, and it will be up to banks to decide whether they will allow sales at gun stores to happen on their issued cards.
Merchant category codes now exist for almost every kind of purchase, including those made at supermarkets, clothing stores, coffee shops and many other retailers. “Unfortunately, the credit card companies have failed to support this simple, practical, potentially lifesaving tool. The time has come for them to do so,” Lander said recently, before Visa and others had adopted the move.
Gun rights advocates argue that tracking sales at gun stores would unfairly target legal gun purchases, since merchant codes just track the type of merchant where the credit or debit card is used, not the actual items purchased. A sale of a gun safe, worth thousands of dollars and an item considered part of responsible gun ownership, could be seen as a just a large purchase at a gun shop.
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Visa, Mastercard and AmEx to Start Categorizing Gun Shop SalesPayment processor Visa Inc. says it plans to start separately categorizing sales at gun shops.
Consulte Mais informação »
Visa, Mastercard, AmEx to start categorizing gun shop salesPayment processor Visa Inc. says it plans to start separately categorizing sales at gun shops.
Consulte Mais informação »
Visa, Mastercard, AmEx to start categorizing gun shop salesPayment processor Visa Inc. says it plans to start separately categorizing sales at gun shops.
Consulte Mais informação »
Visa, Mastercard, AmEx to start categorizing gun shop salesPayment processor Visa Inc. said Saturday that it plans to start separately categorizing sales at gun shops, a major win for gun control advocates who say it will help better track suspicious surges of gun sales that could be a prelude to a mass shooting.
Consulte Mais informação »
Payment Processor Visa To Start Categorizing Sales At Gun StoresVisa’s adoption is significant as the largest payment network, and will likely add pressure for Mastercard and American Express to adopt the code as well.
Consulte Mais informação »
Visa, Mastercard, AmEx to start categorizing gun shop salesPayment processor Visa Inc. said late Saturday that it plans to start separately categorizing sales at gun shops.
Consulte Mais informação »