Big Law
Credit Card Companies to Enforce New Merchant Sales Code for Transactions Involving Guns
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.
The International Organization for Standardization, based in Geneva, approved the code on Friday. The system will separately categorize sales at gun and ammunition stores, which advocates say can help track suspicious transactions of firearms and ammunition.
Visa, the world’s largest payment network, will “proceed with next steps” the company said in a statement Sunday, “while ensuring we protect all legal commerce on the Visa network in accordance with our long-standing rules.”
