Credit Card Companies To Categorize Gun Store Sales
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.
Visa said it would apply the International Organization for Standardization’s new merchant code to gun shop sales. The new IOS code was announced on Friday. Previously, gun store sales were labeled as “general merchandise.”
“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.
The move by Visa signals a major victory for gun control advocates who argue that a separate category for gun store sales will help track suspicious quantities of firearm sales that could potentially lead to a mass shooting.
But gun rights advocates and gun lobbyists have said categorizing gun shop sales would be unfair to the industry given that most firearm sales do not result in mass shootings.
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