U.S. Reps Introduce Measure Targeting Gun-Specific Merchant Category Code
The controversy over a new Merchant Category Code (MCC) specifically for purchase of guns and ammunition continues to grow and is now gaining attention at the federal level.
At issue is a new MCC for gun purchases adopted by the International Organization for Standardization in early 2023. MCCs are used by payment processors (like Visa and Mastercard) and other financial services companies to categorize transactions.
Prior to the creation of the specific gun code, firearms retailers fell under the MCC for sporting goods stores or miscellaneous retail.