Source: LA Times
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Starting July 1, credit card payment networks must provide a unique identifying code for gun and ammunition retailers. Those four-digit identifiers, known as “merchant category codes,” already appear on credit card statements for most types of businesses, including grocery stores, hotels and gas stations, and help payment networks offer rewards and track spending trends.
Typically, gun and ammunition retailers are categorized as sporting goods stores. Under AB 1587, introduced by Assemblymember Phil Ting (D-San Francisco), credit card payment networks must begin offering the merchant category code for gun and ammunition retailers on July 1. Retailers have until May of next year to integrate the code into their systems.
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