- Visa, the world’s largest payment processor, and Mastercard are now pausing adoption of the new code after the stiff opposition and in the face of several states moving forward with legislation that would block such tracking, according to Bloomberg.
- “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,” a spokesman for Visa told Bloomberg.
- “It’s for that reason that we have decided to pause work on the implementation of the firearms specific MCC.”
