Visa Inc , the world's largest payments processor, on Saturday said it will implement a new merchant category code for U.S. gun retailers, which will identify transactions at firearms stores.
Visa credit and debit cards are seen in this picture illustration taken August 2, 2022. REUTERS/Benoit Tessier/File Photo, the world's largest payments processor, on Saturday said it will implement a new merchant category code for U.S. gun retailers, which will identify transactions at firearms stores.
The International Organization for Standardization on Friday approved creation of the merchant code following pressure from gun-control activists who say it will help track suspicious weapons purchases. "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.Credit card processors use codes to identify sales by sector such as grocery stores, restaurants and more. Gun stores have been included in a broader retail category.Several top U.S.
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