Payments giants adopt new code to identify sales at gun stores in the US

Arms of fire are seen at the Bobâs Little Sports Gun Store in Glassboro town, New Jersey, USA on May 26, 2022.

Tayfun Coskun | Anadolu Agency | beautiful pictures

PassportThe world’s largest payment processor, said Saturday it will roll out a new merchant category code for US gun retailers that will identify transactions at firearms stores. .

The International Organization for Standardization (ISO) approved the creation of a merchant code on Friday following pressure from gun control activists who said it would help track suspicious arms purchases. .

“Following ISO’s decision to establish a new merchant category code, Visa will take the next steps, while ensuring we protect all legitimate commerce on the Visa network under its longstanding rules. us,” Visa said in a statement.

Master Card said on Friday that following the ISO approval, “we’re now shifting our focus to how it will be done by merchants and their banks as we continue to support legitimate purchases on the Internet.” network while protecting the privacy and discretion of individual cardholders.”

American Express said that when ISO develops a new code, the company will work with third-party processors and partners to implement.

The code will show where an individual spent money, not what items were purchased.

Some of the top US pension funds, including those for government workers in New York City and California, have filed shareholder resolutions asking payment companies to look into the matter.

Some gun rights activists worry the new law could lead to illegal surveillance.

This year’s mass shootings, including at a Texas elementary school that killed 19 children and two teachers, have added to the long-running US debate over gun control.

US President Joe Biden has called on Congress to pass an assault weapons ban as well as $37 billion for crime prevention programs, with $13 billion to hire and train 100,000 more police officers over the next five years. .

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