Several major credit card companies have decided to move forward with plans to track purchases made at gun stores in California. CBS News It was reported on Monday.
American Express, Visa and Mastercard are introducing new merchant codes for firearms and ammunition retailers to help banks track “suspicious” purchases in compliance with a new California law. The credit card company does not record data at his SKU level, so adopting the code does not provide information about the specific products purchased at the retail store.
Retailers are assigned a Seller Category Code based on the type of products they sell.according to Mastercard Quick Reference Booklet, Gun dealers are currently assigned a seller category code of “Other” or “Durable Goods.” Other businesses listed under these codes include gas lighting equipment, musical instruments, fireworks, fire extinguishers, grave markers, bags, wood chips, etc.
In 2022, the International Organization for Standardization approved a unique code for firearm retailers. Subsequently, California passed a law requiring retailers to adopt ISO’s new code by May 2025.
The three major credit card companies previously agreed to assign new codes to gun dealers to help banks more easily track firearm purchases. In September 2022, 24 Republican state attorneys general sent a letter urging companies to reconsider, Blaze News previously reported. According to the AG, implementing the proprietary code could violate the rights of citizens.
“Categorizing the constitutionally protected right to purchase firearms would unfairly exclude law-abiding merchants and consumers alike,” the letter argued.
Supporters of the law believe the unique provisions would prevent mass shootings. Conservatives argue that the measure violates Second Amendment rights and could allow banks to flag and report so-called suspicious purchase patterns that target law-abiding Americans. There is.
Blaze News previously reported that the companies agreed to halt plans to implement the new code in March 2023, citing pressure from Republican politicians.
On Monday, CBS News said American Express, Visa and Mastercard have since reversed course and plan to adopt the new code again to comply with California law.
The news organization reported that credit card companies told Congressional Democrats last month that the new code would be available and ready for use in California by May 2025.
“Applicable independent sellers in California who primarily engage in the sale of firearms will be required to utilize the code,” Mastercard executive Tucker Foote wrote in a letter to lawmakers.
Comments by Visa Senior Vice President Robert B. Thomson III to lawmakers appear to indicate the company will continue to suspend adoption of the code at least until California’s new law takes effect in 2025. was. CBS News reported that Thompson assured Democrats that the visa effort would be made. Follow national regulations.
Thomson writes: [firearm merchant code]Regulatory and legislative uncertainties remain enormous. ”
“Given conflicting state laws on this issue and the possibility that other states may enact legislation limiting or mandating this code, our enforcement moratorium remains in effect,” Thomson added.
Do you like Blaze News? Avoid censorship and sign up for our newsletter to get articles like this delivered straight to your inbox. Please register here!
