Merchant Accounts for Online Firearm Business

May 15, 2014
online-firearm

Due to many new state and Federal regulations, online firearm businesses are gaining traction. While they are sure to be a moneymaker, many processors are hesitant about having an online firearms business as a client. However, there are options available for your business, such as eMerchantBroker.

Established firearm retailers, as well as new retailers, are seeking to take their business online to take advantage of the unique opportunities available on the internet. If you are a gun dealer, you may find your merchant account provider for your retail location will open a merchant account for your new online business. This more often than not simply is not true. Online firearm sales are considered high risk and these are difficult businesses to find payment processing for, or most companies who do process high risk companies charge considerable rates in order to do so. That is where eMerchantBroker comes in.

eMerchantBroker specializes in high risk businesses, including online firearm businesses. eMerchantBroker offers no application fee, as well as competitive rates. Their application process is quick and easy, and can take as little as 48 hours allowing your merchant account for online sales to be up, operational, and freeing you to focus your resources on running your business. Their customer service is superb, and is available for your questions and needs if they arise.

There is a pattern of firearm retailers being refused the same services for their online shop as their retail location shop. The high risk reputation of online firearm sales will create challenges for your business as it expands into the digital world.  However, eMerchantBroker is equipped with the team and tools needed to get you approved.

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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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