Gun Friendly Credit Card Processors

May 06, 2020

Gun dealers face unique challenges and need gun friendly credit card processors to take payments.

Although the selling of firearms is legal in the United States, both online and in person, gun dealers are finding it increasingly difficult to find gun friendly credit card processors. The reason for this is that the selling of firearms is considered a high risk business. But because guns are considered a big ticket item, customers are more likely to prefer paying by credit. So what options do gun businesses have to take credit card payments?

First of all, understanding the nature of your business will guide you into finding a gun friendly credit card processor. Because all firearms sales are considered high risk, the most appropriate action to take is to locate a processor who offers high risk merchant accounts. High risk businesses are characterized by higher than ordinary chargeback rates, businesses selling age-restricted items, potential for fraud, and otherwise legitimate and legal businesses. 

Secondly, know going in that high risk merchant accounts are characterized by higher than normal fees. The type of business you’re in, the registration with certain card brands, and other factors will determine your final cost. The reason that processors charge higher rates is that they are taking a gamble on losing money. Although individual businesses are responsible for any chargebacks, it will cost the processor both time and money to chase down the costs that come with chargebacks. The higher fees also cover the additional administrative work needed to manage these types of accounts.

How To Find a Gun Friendly Credit Card Processor

Now that you know that you will need to locate a high risk merchant account provider, specifically seek one that has considerable experience supporting firearms sales. Be prepared for a time-consuming process of locating a reputable processor that meets your specific needs. Get as many quotes as possible to compare. Unfortunately, some of the quotes given will not share the whole story. You have to determine what is the pricing model being used by each company and know how to compare them. Also, since many rates are not fully disclosed, brace yourself for hidden fees. 

Look for a processor that has strong banking relationships, are legally compliant, and have gateways that are simple to use and safe. 

One way to prevent your account from being shut down is to avoid these traditional processors: Stripe, Square, PayPal, and Braintree. These payment processors simply will not work with ammo and firearm merchants due to fraud, high chargeback and return rates, legal and financial liability.

By choosing a gun friendly credit card processor, you also avoid the following:

  • A frozen account: If using a traditional payment processor that does not support ammo and firearms sales, and they discover the nature of your business, they will freeze your merchant account.
  • Unobtainable funds: If your payment processor does freeze your account, you will not have access to any of your funds. This can last for at least 6 months. 
  • Loss of income: Having difficulties with your payment processor will affect your ability to expand your customer base, and ultimately, losing sales. If your payment gateway is inaccessible to customers, this can mean less sales. 

Save Yourself The Hassle…Go With A Gun Friendly Credit Card Processor

By choosing a gun friendly credit card processor, you are creating a safety net where you are able to not only sell your firearms securely, but you are also ensuring that your business will be set up to generate a profit for years to come.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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