International Organization for Standardization Approves New Merchant Code for Gun Stores to Enable Greater Surveillance of Gun Purchases Made with Credit Cards
- The decision by the Geneva-based nonprofit was long sought by advocates of tighter gun regulation, such as U.S. Senator Elizabeth Warren and other Democrats including New York City Mayor Eric Adams.
- It clears the way for banks that process gun retailers' payments to decide whether to assign the new code to merchants. The code would help monitors track where an individual spends money, but would not show what specific items were purchased.
- The codes were requested of the Swiss body known as ISO by Amalgamated Bank (AMAL.O) of New York, which calls itself a socially responsible lender and investor.
- A representative for Mastercard Inc (MA.N) said that following ISO's approval, "We now turn our focus to how it will be implemented by merchants and their banks as we continue to support lawful purchases on our network while protecting the privacy and decisions of individual cardholders."
- American Express Co (AXP.N), in a statement sent by a representative, said when ISO develops a new code the company works with third-party processors and partners on implementation.
- Representatives for Visa (V.N) did not respond to questions.