Apply Online
Visa Mastercard Discover Amex

Firearms Merchant Service Provider

Sell Online, Ecommerce, Mail order Gun Supplies, Firearms Equipment, Gun Parts, Ammo, Weapons, Knives, any type of firearm industry product or service. Firearms friendly banks for payment processing.

Gun Store Merchant Account Services

Payment Processing for Gun Merchants. A merchant account can help a business streamline its payment processing. However, getting one is easier said than done for a few merchants. Gun merchants feature in this list. No matter how spotless their business record or how high their credit rating, they have never been able to get rid of their “high risk” label.

The bottom line is firearms and weapons dealers are expected to encounter problems when applying for payment processing. Does that mean they have to work without credit card processing? Not really. We give you the lowdown on getting payment processing for gun merchants.

Over the last decade, the firearms industry has witnessed a tremendous growth in production. The manufacture of weapons in the form of pistols, rifles and shotguns crossed the 10 million mark in 2016. This mean the industry processes large sums of money by way of payments and has great potential for profits. However, accepting cash-only payments can work against it. People across the globe prefer to use plastic money in place of hard cash, whether they are shopping online or at retail stores. To process credit card payments, gun merchants need to secure a payment processor. Banks are unwilling to underwrite firearm dealers. Other payment processors might provide you with a merchant account initially, only to freeze or shut it down later, with no prior notice. The reasons for the same are mentioned below.

Laws and Regulations

The firearms industry is a highly regulated industry. The federal and state governments have introduced strict laws regarding the purchase and sale of firearms. The increasing incidents of gun violence have resulted in the government implementing several more restrictions on merchants and buyers. They have also altered public opinion, leading to gun merchants becoming unpopular with the masses. Thus, credit card processing firms hesitate to associate themselves with gun merchants for the fear of losing the favor of people too.

Chargebacks and Fraud

The firearms industry can have high chargeback ratios. Being “high-ticket” items, customers are more likely to submit a chargeback claim if they receive a poor-quality product or the wrong product. Chargebacks are expensive, and many chargebacks translate to heavy financial losses to a business. Banks are unwilling to bear this financial burden and refuse to work with firearms merchants. Credit card fraud is common to all businesses. However, the risk is higher in the case of high-risk businesses like gun merchants because of the high value of their products.

Online Sales Internet Moto Ecommerce

In some cases, merchant account providers reject applications because of the way a weapons dealer conducts business. They are wary of online businesses due to doubts about the legal status of the business. A retail store is believed to be less vulnerable to fraudulent activity as compared to online stores. Thus, some merchants deny businesses offering internet sales.

Getting You Application Accepted and Approved

Despite the challenges you might face, you can increase your chances of getting a gun merchant account with the following tips. Payment processors choose not to work with illegal firearms dealers to avoid legal trouble. The Federal Firearms License is a prerequisite if you want your merchant account application to be accepted. Update yourself on the rules regarding the interstate transfer and sale of firearms. It is important to comply with them.

The mistake most gun merchants make is they approach just about any payment processor. This increases the chances of getting rejected. Gun merchants should approach a credit card processing company experienced in handling firearm merchant accounts. They know the ins and outs of a firearms business, the problems one might encounter and solutions to work around them. A merchant also needs to have a proven track record of credibility. Get all your financial documents including your credit report in place for perusal by the payment processor. Here’s what the best credit card processors should have the following features.

Acceptance of varied businesses in the firearms industry such as weapon sellers, gun makers and parts dealers. A keen eye for federal and state laws concerning the sale, transfer and possession of firearms, weapons, ammunition, gun parts etc.

  • Payment processing options for online and retail stores.
  • Integration with major payment gateways.
  • Ability to process Visa, MasterCard, Discover and Amex cards.
  • Competitive rates with no application fees, no setup fees and no early termination charges.
  • Chargeback insurance and fraud prevention.
  • A dedicated customer support team for timely resolution of issues at the user-end.
  • PCI compliant payment system offering end-to-end encryption of customer data.
  • Multiple underwriting banks for uninterrupted payment acceptance.
  • No compulsion of signing long term contracts that keep you bound to a credit card processor.
  • Quick application acceptance and setup.

They should have a good rating with business regulating authorities such as Better Business Bureau and Consumer Affairs. So, choose the right gun merchant account and provide your customers a secure, convenient and reliable way to pay.