Credit card purchases of weapons in the United States can now be tracked, and purchases deemed suspicious can even be shared with police enforcement, according to a new clause established by an agency that establishes criteria for commercial transactions. The International Organization for Standardization (ISO), according to Reuters, has authorized the establishment of a merchant code for gun dealers.
Under the four-digit merchant codes that categorize firms from all industries, gun sales were formerly classified as ‘miscellaneous retail stores’ or ‘sporting goods stores’. Politicians such as Massachusetts Senators Elizabeth Warren and Ed Markey have praised the concept, although it is unclear how the method would work.
The purchase of weapons is prohibited by a number of high-end payment card issuers, including PayPal, Stripe, and Square. The overall cost may be greater for credit firms that allow purchases owing to interest. As a result, many people who acquire weapons do it with cash. When questioned in internet forums if it is better to buy firearms with cash or credit, many individuals prefer cash.
Meanwhile, when asked how individuals like the Uvalde, Texas, gunman acquired firearms through their platform using a debit card, financing businesses like Credova, which was created to allow installment plans for gun sales, dismiss any participation. President of Everytown for Gun Safety, John Feinblatt, praised ISO’s decision, which was made public on Friday and stressed the importance of seeing it through to completion.
‘Today’s announcement is a critical first step toward providing banks and credit card companies with the tools they need to recognize dangerous firearm purchasing trends – such as a domestic extremist amassing an arsenal – and report them to law enforcement,’ he said in a statement obtained by the Guardian. Amalgamated Bank, which bills itself as a ‘socially responsible bank,’ had requested the codes from the ISO.
On Friday, they celebrated their victory and praised their supporters, including New York Governor Kathy Hochul and Attorney General Tish James. More than 300,000 illegal gun purchases were averted in 2020 as a result of FBI background checks, nearly twice as many as in 2019. Because individuals were locked indoors during the first pandemic wave, gun sales skyrocketed the next year. According to data, there were 20 million legal gun purchases in 2020, up from 12.4 million the previous year.
Post Your Comments