Payment giants suspend work on code that would track gun purchases
VDiscover, Mastercard and isa have ceased to work with a code they believed would be tracking. gun purchases.
Payment processors have previously pledged to use the code that was suggested by International Organization for Standardization. It is aimed to reduce fraud. gun violence. This week the three men decided to end the project. according to BloombergAfter previously being skeptical about the idea, he expressed growing doubts.
CREDIT CARD LATE FEES CAPPED AT $8 IN PROPOSED RULE FROM CFPB
“There are bills advancing in several states related to the use of this new code. If passed, the result will be an inconsistency in how this ISO standard could be applied by merchants, issuers, acquirers, and networks,” Mastercard spokesmen told the outlet. “It’s for that reason that we have decided to pause work on the implementation of the firearms-specific [merchant category code].”
Discover gave the reasons for leaving the code. “to continue alignment and interoperability with the industry.”
Apart from being criticised by 2nd Amendment advocates, payment networks voiced concern at the fact that there was no distinction between the 2.
“Read more from Payment giants suspend work on code that would track gun purchases”
“The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily”
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
