The Geneva-based International Organization for Standardization approved the code on Friday. The system will separately categorize sales at gun and ammunition stores, which proponents say can help track suspicious gun and ammunition transactions.
Visa, the world’s largest payment network, “will take the next steps,” the company said in a statement on Sunday, “while working to protect all legal commerce on the Visa network in accordance with our long-standing rules.”
American Express said it would follow its usual business practices and work with third-party processors and partners to implement the code.
“We strive to ensure that we have the right controls in place to meet our regulatory and fiduciary responsibilities, as well as to prevent illegal activity on our network,” the company said in a statement Sunday.
A Saturday statement from Mastercard noted that recent bipartisan action in Congress is a positive step in the “significant” fight against gun violence. Now that the ISO has approved the new merchant category code, Mastercard said it is focusing on how the system will be implemented by merchants and their banks.
“We continue to support lawful purchases on our network while protecting the privacy and decisions of individual cardholders,” Mastercard said in a statement. “This is exactly how we would handle the process for any other suitable MCC, like a bike shop or a sporting goods store.”
“It’s not about tracking or prevention or any virtuous motivation – it’s about creating a national registry of gun owners,” the NRA said on Sunday.