Legislation being pursued by Republicans in several U.S. states aims to limit use of a planned merchant code for credit card transactions at gun retailers meant to detect suspicious firearms and ammunition sales, undermining a tool welcomed by gun control advocates.
The bills were introduced in states including Texas, Florida, Mississippi, Oklahoma, West Virginia and Wyoming. read more
They would prohibit or limit banks or payment processors from using the “merchant category code,” or MCC, approved for gun sellers in September by the Geneva-based non-governmental International Organization for Standardization (ISO), which develops standards on various aspects of technology and manufacturing.
The major credit and debit card companies have committed to using the code. Discover Financial Services (DFS.N) has said it will introduce it in April and that it is following other companies in doing so. Discover is the first company to publicly state a timetable.
By Ross Kerber