Visa Warns Merchant Codes Won’t Show Customer Gun Purchases
A salesperson shows an AR-15 rifle to a customer at a store in Orem, Utah.
Photographer: George Frey/BloombergThis article is for subscribers only.
Visa Inc. warned a new system that gun-control advocates are saying will limit mass shootings might not have the desired effect.
Earlier this month, the International Organization for Standardization approved a new merchant category code, or MCC, that banks will use when processing transactions for gun and ammunition stores. Gun-control advocates were quick to celebrate the move, arguing it would help banks flag suspicious activity at these retailers.