Page 16 - Merchant Category Code News Today

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Some of the nation’s deadliest mass shootings involved credit card payments, so gun control activists are demanding that credit card companies "take bolder steps to ensure bad actors are not exploiting our nation's financial system to carry out mass shootings and illicitly traffic firearms.”

The move was approved by a group that sets standards for business transactions, but it was unclear how companies and banks would carry it out.

A gun control advocacy group is seeking to make credit card companies flag “suspicious purchases” of firearms, suggesting that restricting such activities might end up saving lives.

Explore the economics of interchange fees, their role in the payments market, and how founders can earn interchange by offering card products.