If you plan to sell guns online or in a retail setting with a credit card machine, you will quickly discover that merchant services can be hard to acquire. Transactions that involve gun sales — including those by gun stores, firearms dealers, and gunsmiths — are considered high risk. Many payment processing companies will turn your business away or worse — freeze your account with no warning after you begin sales. This has happened to many high-risk businesses that signed up for processing platforms like PayPal and Square.
The firearms industry generates about $5 billion every year in revenue and employs more than 35,000 people in manufacturing alone. Unfortunately, many merchant account providers do not accept businesses that process gun transactions or charge very high fees and rates.
While your options are more limited, signing up for payment processing services in the gun industry isn’t as difficult as you may think.
Gun Retailers Face Discrimination in the Payment Industry
The firearm industry often faces chargebacks, a higher risk of fraud, and stringent restrictions put in place by federal and state governments. These factors are responsible for the high-risk classification many gun stores and dealers face when applying for a merchant account.
Many payment processing companies specifically prohibit the use of their system for the sale of guns, ammunition, and accessories. Many in-store transactions are prohibited, but ecommerce gun merchants face the greatest challenges in accessing processing services. The trend of banning gun dealers or adding them to “high-risk” categories has only grown over the last decade. For these reasons it is important to find a payment processor that is experienced and specializes in firearm merchant accounts.
We Serve Gun Dealers and Gun Retailers
At Host Merchant Services, we take pride in offering competitive rates and quality credit card processing within the firearms community. Unlike other payment processors, we understand that gun stores, manufacturers, and detailers operate under heavily regulated processes with very good oversight.
Our merchant account allows you to process transactions online or conduct sales in person with a credit card machine, whether you operate a retail store or sell at gun shows. We support the sale of guns, ammunition, accessories, gun parts, and other transactions related to the industry. You can count on us for a dedication to customer service with competitive rates and no hidden costs. We are experts at getting firearm merchant accounts approved with a streamlined process and partnership with multiple banks. We get all types of firearm merchants up and running in no time.
Just because you are considered a high-risk business does not mean you need to settle for less from your payment processor. Contact Host Merchant Services today for a quote to get started.