Firearms Merchant Account
Studying the the ins and outs of the gun and ammunition industry for decades has been the key to serving its merchants with the best payment solutions on the market.
The Bad News
Merchants who sell or manufacture guns, ammunition or related supplies often have a difficult time finding a merchant service provider. Even if they get approved for a merchant account, firearm retailers typically face high transaction rates and inconvenient account holds when they accept large electronic payments. Ecommerce gun stores bear even more discrimination from payment processors since they’re considered doubly high risk—handling card-not-present transactions in an industry ridden with chargebacks, legal issues and conflicting opinions on regulation.
The Good News
BankCard USA takes a more proactive approach to the industry. We take pride in our experience providing quality, affordable merchant services to firearms companies. We understand the expansive restrictions imposed on them by federal and state governments and trust that supervision. Even though it’s considered high risk, the firearm and ammunition market is one that we value. It’s also a major catalyst for economic growth in the U.S.
According to the 2017 Firearms and Ammunition Industry Economic Impact Report published by the National Shooting Sports Foundation, the firearms industry:
- Created 30,000 new jobs in the past three years.
- Employs over 141,000 people and an additional 159,623 in ancillary industries (businesses that supply goods or services to merchants who make, sell or distribute firearms and/or ammunition, plus any that rely on this industry for the bulk of their sales).
- Pays sizeable federal and state taxes on the products it sells (3.8 billion in federal business taxes, 2.7 billion in state taxes, and 838 million in excise taxes in 2016). Much of the tax revenue funds wildlife conservation efforts. The Pittman-Robertson excise tax is one example and funds hunting education programs, habitat restoration efforts and other projects.
- As a whole, was responsible for over $51 billion in annual economic activity, a 168% increase since 2008.
Whether you’re a big or small gun retailer, ammunition manufacturer, the owner of a shooting range or any merchant involved in the firearms community, we can customize a payment processing package that fits your needs. We can help with online sales, wireless and mobile processing at gun shows, fixed-location POS system installation and anything in between, no matter the sales volume.
Contact us for more details about our end-to-end financial services.