Payment processor Visa Inc. says it plans to start separately categorizing sales at gun shops.
US credit card giants said they will implement a new merchant category code for the nation’s gun retailers, which gun control activists say will help flag potential mass shooters and gun traffickers.
The International Organization for Standardization, based in Geneva, approved the code on Friday. The system will separately categorize sales at gun and ammunition stores, which advocates say can help track suspicious transactions of firearms and ammunition.
Visa, the world’s largest payment network, will „proceed with next steps“ the company said in a statement Sunday, „while ensuring we protect all legal commerce on the Visa network in accordance with our long-standing rules.“
American Express said it will follow its usual business practices and work with third-party processors and partners to implement the code, CNN reported.
„We are focused on ensuring that we have the right controls in place to meet our regulatory and fiduciary responsibilities, as well as prevent illegal activity on our network,“ the company said in a statement Sunday.
