mdram Wrote:wonder if they track weed sales where its legal, if so they can now go confiscate the fires of weed buyers

Quote:Visa Warns Merchant Codes Won’t Show Customer Gun Purchases

September 13, 2022 at 6:50 PM EDTUpdated onSeptember 13, 2022 at 7:47 PM EDT


Visa Inc. warned a new system that gun-control advocates are saying will limit mass shootings might not have the desired effect.

Earlier this month, the International Organization for Standardization approved a new merchant category code, or MCC, that banks will use when processing transactions for gun and ammunition stores. Gun-control advocates were quick to celebrate the move, arguing it would help banks flag suspicious activity at these retailers.

The problem, Visa says, is when it processes transactions for any merchant it doesn’t have access to data showing what products consumers are actually buying. That means the network and its banking partners would have no idea if a consumer is buying an automatic rifle or safety equipment at these stores.

“We have no visibility into what items a consumer is purchasing -- this is true irrespective of which MCC applies to a merchant,” Visa said in a statement on its website. Many are “advocating the use of MCCs to track gun sales as a potential tool in combating gun violence. That’s not what merchant codes are designed for, nor should they be.”

In recent years, Visa and its rivals have faced repeated criticism over how their networks are used for commerce. The company, for instance, has stopped allowing use of its cards on Pornhub and other sites owned by MindGeek that permit user-generated adult content. The move came after a New York Times column in 2020 accused Pornhub of distributing videos depicting child abuse and non-consensual violence. All along, though, Visa and its rivals have maintained that they will allow their networks to be used for legal commerce.

“We do not believe private companies should serve as moral arbiters,” Visa said. “Asking private companies to decide what legal products or services can or cannot be bought and from what store sets a dangerous precedent. Further, it would be an invasion of consumers’ privacy for banks and payment networks to know each of our most personal purchasing habits. Visa is firmly against this.”

PVBoom Wrote:Florida will ban CC cards from operating if they track firearm purchases.

https://floridapolitics.com/archives/557606-declined-jimmy-patronis-plans-to-void-credit-companies-curtailing-gun-sales/

Quote:I’ll work with the Legislature to pass a law penalizing businesses who are targeting the right to bear arms,” Patronis said.

Double Naught Spy Wrote:Good stumping, sort of like saying he is against it, but pretty much just a fantasy as described. I would not count on this campaign promise of being the ban that he describes. However, imagine if they did do it and all of a sudden MILLIONS of Floridians no longer had access to their credit cards because the companies were banned, millions of Floridians that rely on credit cards for day to day transactions, recurring bill payments, emergencies, etc. Imagine the BILLIONS of tourist dollars lost each week if all of a sudden credit cards were banned in Florida. Tourism would collapse. Here is a neat example. Imagine the hundreds of thousands of people of the tourist industry all of a sudden out of jobs after thousands of business failures because Florida would not allow credit cards? Between crippling his own people and crippling a primary source of income for Florida (tourism), such a move would cripple the Florida economy worse than IAN or anything else they have seen previously.

If he was to accomplish this, the credit card companies would lose some money, no doubt, but Florida would be a disaster area. Imagine the riots. Imagine the exodus of residents to credit card friendly states that have jobs. House values would decline sharply. People would be so far upside down on the mortages without jobs and without being able to sell their homes at anything but change on the dollar. People won't be able to pay their property taxes without jobs. Government services would falter.

Of course, they won't ban credit card companies that do this and he knows that, so then he waffles...

cited from the article

He might be able to work with the legislature to try to penalize companies, but that doesn't mean it will happen and even if they penalize the companies, they won't ban them from operating in Florida. At best, they will make such tagging of transactions illegal, but the credit card companies will remain and will being doing business in the state.

He has the right attitude, but he is stating/promising what he can't deliver (banning) and may have trouble delivering (penalizing).

Double Naught Spy Wrote:Good stumping, sort of like saying he is against it, but pretty much just a fantasy as described. I would not count on this campaign promise of being the ban that he describes. However, imagine if they did do it and all of a sudden MILLIONS of Floridians no longer had access to their credit cards because the companies were banned, millions of Floridians that rely on credit cards for day to day transactions, recurring bill payments, emergencies, etc. Imagine the BILLIONS of tourist dollars lost each week if all of a sudden credit cards were banned in Florida. Tourism would collapse. Here is a neat example. Imagine the hundreds of thousands of people of the tourist industry all of a sudden out of jobs after thousands of business failures because Florida would not allow credit cards? Between crippling his own people and crippling a primary source of income for Florida (tourism), such a move would cripple the Florida economy worse than IAN or anything else they have seen previously.

If he was to accomplish this, the credit card companies would lose some money, no doubt, but Florida would be a disaster area. Imagine the riots. Imagine the exodus of residents to credit card friendly states that have jobs. House values would decline sharply. People would be so far upside down on the mortages without jobs and without being able to sell their homes at anything but change on the dollar. People won't be able to pay their property taxes without jobs. Government services would falter.

Of course, they won't ban credit card companies that do this and he knows that, so then he waffles...

cited from the article

He might be able to work with the legislature to try to penalize companies, but that doesn't mean it will happen and even if they penalize the companies, they won't ban them from operating in Florida. At best, they will make such tagging of transactions illegal, but the credit card companies will remain and will being doing business in the state.

He has the right attitude, but he is stating/promising what he can't deliver (banning) and may have trouble delivering (penalizing).