A credit card industry group has approved
a plan to track sales of guns and ammo
with a new merchant code
Posted By: Dreadnought, 9/10/2022 12:16:20 AM
CBS News has a big scoop this afternoon. The industry group that sets international standards for credit card companies has decided to create a new code for the purchase of guns and ammo that, while not identifying the exact purchases, will separate those items from the more generic category they had been lumped in with previously. Merchant category codes are made up of four digits and are used across all sorts of industries as a means to classify retailers, while not revealing individual product purchases. Credit card companies currently lump firearm retailers in with other outlets, classifying them as either “5999: Miscellaneous retail stores” or “5941: Sporting Goods Stores.”
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Merchant category codes are made up of four digits and are used across all sorts of industries as a means to classify retailers, while not revealing individual product purchases. Credit card companies currently lump firearm retailers in with other outlets, classifying them as either “5999: Miscellaneous retail stores” or “5941: Sporting Goods Stores.”
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