Payment processor Visa Inc. said Saturday that it plans to start separately categorizing sales at gun shops. It joins Mastercard and American Express, which also said they plan to move forward with categorizing gun shop sales.
NEW YORK — Payment 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.
“Following ISO’s decision to establish a new merchant category code, Visa will proceed with next steps, while ensuring we protect all legal commerce on the Visa network in accordance with our long-standing rules,” the payment processor said in a statement. Two of the country’s largest public pension funds, in California and New York, have been pressing the country’s largest credit card firms to establish sales codes specifically for firearm-related sales that could flag suspicious purchases or more easily trace how guns and ammunition are sold.
The city’s comptroller, Brad Lander, said it made moral and financial sense as a tool to push back against gun violence. The pension funds and gun control advocates argue that creating a merchant category code for standalone firearm and ammunition stores could aid in the battle against gun violence. A week before thein Orlando, Florida, where 49 people died after a shooter opened fire in 2016, the assailant used credit cards to buy more than $26,000 worth of guns and ammunition, including purchases at a stand-alone gun retailer.
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