New Jersey S3001 mandates merchant acquirers to use specific merchant category codes for firearms and ammunition purchases.
New Jersey S3001 requires merchant acquirers to assign the merchant category code for firearms and ammunition businesses, established by the International Organization for Standardization, to firearms merchants starting May 1, 2027. The bill defines "firearms merchant" as a business with the highest sales value from firearms, firearm accessories, or ammunition sales. Merchant acquirers must use this code for processing credit, debit, or prepaid transactions.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.