If you are a certified firearms dealer with a legal Federal Firearms License (FFL), chances are that you want to get your business online to meet the increasing needs of your customers or to help grow your business by providing your customers as much information as possible.
Even though you are a licensed firearms dealer, many banks avoid doing business with you because they don’t want to take the risk or they do not understand how the process of purchasing a firearm online works. Because credit card payment is the most popular payment source in online businesses, like any other ecommerce merchant, you will need to have an online merchant account for online credit card processing purposes.
Since you operate in a card-not-present environment where the customer is not required or is not present to sign the credit card receipt, acquiring banks and merchant account providers understand that you are at a higher risk for chargebacks, frauds, refunds and high loss ratios. Also, it is your merchant account provider who is on the hook for all the chargebacks and losses if you can’t or don’t deliver your product properly as per the assured quality standards. In view of the above, even if a traditional bank approves your online merchant account, their fees and rates tend to be excessive so it’s recommended that you approach a third party merchant account provider like eMerchantbroker.com who is experienced in handling firearms merchant accounts and offers integrated solutions that fit your company’s requirements. As a matter of fact, we believe dealing firearms is of much lesser risk than other ecommerce businesses considering the extensive licensing and restrictions associated with getting an FFL.
So how do you get an online firearm merchant account?
Many times banks shut down high risk businesses if they seem to have suspiciously high volume sales, which in turn leads to the shutting down of your online merchant account so in order to avoid that, here at eMerchantbroker.com we recommend you set up a high risk merchant account or an offshore merchant account that comes with huge benefits for high risk businesses. Offshore merchant accounts do not demand high initial costs and do not close accounts when they see the customers business growing so they’re an ideal way to boost your online business, making it possible for buyers to make easy online payments through credit cards.
While choosing the right processing bank to process your customer’s credit card payments can often be daunting, it is particularly challenging in your case because most ecommerce shopping carts don’t process for firearms merchants. eMerchantbroker.com ensures that the shopping carts tied up with us are gun dealer friendly and that they accept all major credit cards online.
So, submit your application with basic information such as a copy of your driver’s license, a copy of your FFL, 3 months of business statements, a bank letter copy and we will have your online firearm merchant account approved right away! Start making higher profits with increased sales today.