AP — Beginning Monday, a California law will require credit card networks like Visa and Mastercard to provide banks with special retail codes that can be assigned to gun stores in order to track their sales.
“The merchant category code is the first step in the banking system saying, `Enough! We’re putting our foot down,'” said Hudson Munoz, executive director of the nonprofit advocacy group Guns Down America."`You cannot use our system to facilitate gun crimes.’” States have dug opposing trench lines on other gun policies. On July 4, for example, Republican-led Louisiana will become the 29th state to allow residents to carry concealed guns without a permit.
Those category lists are distributed by credit card networks to banks, which assign particular codes to businesses whose accounts they handle. Some credit card issuers use the category codes for customer reward points. At the urging of New York-based Amalgamated Bank, which worked with gun-control groups, the International Organization for Standardization adopted a new four-digit category code for gun and ammunition shops in 2022. Major credit card networks initially said they would implement it but backed off under pressure from conservative politicians and the gun industry.
Visa, the nation's largest payment network, recently updated its merchant data manual to add the firearms code to comply with California's law.
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