BigHornRam
Well-known member
They are winning the war......
"Visa had expressed concerns about the proposal. In a letter obtained by CBS News, sent by Visa on Wednesday in response to congressional Democrats who supported the plan, the company said, "We believe that asking payment networks to serve as a moral authority by deciding which legal goods can or cannot be purchased sets a dangerous precedent."
Visa wrote, "We understood Amalgamated Bank's request to be justified, at least in part, by an interest in blocking transactions that would fall under such a new category, and Visa's rules expressly prohibit blocking of legal transactions under an MCC.""
New way to track suspect credit card sales of guns and ammo approved by international organization
A CBS News investigation found credit card companies initially resisted the proposal.
www.cbsnews.com
"Visa had expressed concerns about the proposal. In a letter obtained by CBS News, sent by Visa on Wednesday in response to congressional Democrats who supported the plan, the company said, "We believe that asking payment networks to serve as a moral authority by deciding which legal goods can or cannot be purchased sets a dangerous precedent."
Visa wrote, "We understood Amalgamated Bank's request to be justified, at least in part, by an interest in blocking transactions that would fall under such a new category, and Visa's rules expressly prohibit blocking of legal transactions under an MCC.""