Payment processor Visa announced Saturday its plans to separately categorize gun shop sales, joining Mastercard and American Express, which have already said they would categorize purchases at fire…
Payment processor Visa announced Saturday its plans to separately categorize gun shop sales, joining Mastercard and American Express, which have already said they would categorize purchases at firearm stores.
“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,” Visa said in a statement. Visa, which acts as a middleman between merchants and banks, is the largest payment network. And with three major payment processors all electing to label gun store sales, there will now likely be pressure placed on banks as card issuers to decide if they will permit purchases categorized as gun shop sales on their issued cards.York City officials and pension funds had pushed the ISO and banks to adopt the new code on gun shop sales.
Merchant category codes are not exclusive to gun store sales, however, as the codes now exist for nearly every type of purchase, including those at supermarkets, clothing stores, coffee shops and other retailers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Visa, Mastercard, AmEx to start categorizing gun shop salesIt’s 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.
Read more »
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.
Read more »
Visa, Mastercard, AmEx to start categorizing gun shop salesNEW YORK (AP) — 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.
Read more »
Visa, Mastercard, AmEx to begin categorising sales at US gun storesPayment processor says it will adopt International Organization for Standardization's new merchant code for gun sales, a move gun control advocates say will help better track suspicious surges of gun sales.
Read more »
Visa, Mastercard, AmEx to start categorizing gun shop salesThey say it will help better track suspicious surges of gun sales that could be a preclude to a mass shooting.
Read more »