Visa and Mastercard confirmed on March 9 that they’re pausing the implementation of a new merchant category code (MCC) that will help track cardholders’ purchases at gun stores.
The pause stems from legislation advancing in several states that would restrict the use of the new code, and complicate matters, Visa said.
“There is now significant confusion and legal uncertainty in the payments ecosystem, and the state actions disrupt the intent of global standards. Accordingly, Visa is pausing implementation of the MCC,” a spokesperson told The Epoch Times via email.
Mastercard said that the bills would cause “inconsistency” in how the code could be used….