Are you a gun dealer? If yes, you should be well aware that you’re going to face significantly more challenges than other businesses. These challenges will become more vivid when you try to get approved for a firearm merchant account so to take credit cards for firearms.
Challenges of the Firearm Industry
The gun and ammunition manufacturing industry accounts for billions of dollars in the US. Like all other businesses in today’s competitive marketplace, firearms retailers’ success depends on the ability to take debit/card payments and accept the credit of paying customers.
It’s becoming more and more challenging for online firearm dealers to get approved for a merchant account. What’s the reason? Well, there’re strict federal regulations that keep the sale and servicing of firearms under control.
On the other hand, traditional banks and other financial institutions aren’t willing to work with risky businesses. So, when you, as a firearm merchant, come in and ask for gun and ammo merchant services, the unnecessary risks are the first thing that appears in their minds.
So, even if online firearm sales businesses are undoubtedly lucrative, it’s difficult to find a traditional financial institution that’s ready to work with this type of businesses. The firearm industry’s background and history, high chargeback ratios, and potential legal issues make banks and even many processors shy away from firearm merchants.
Firearm Sale in the US
Currently, in the US, the sale of firearms for hunting and home defense accounts for unprecedented records. The firearm and ammo businesses are on the rise. Lots of individuals are trying to find a way to get involved in the industry.
If you’re among these individuals, you should be well aware that you won’t be able to increase revenue if you can’t accept credit/debit card transactions. Beyond that, you won’t be able to provide convenient services to your customers.
That’s where an experienced and reliable credit card processing company like Wolf of Payments steps in. WOP is voted the nation’s #1 high risk payment processor and offers a firearm merchant account at the lowest possible rates in the industry. Wolf of Payments never offers merchant services without talking to merchants and knowing their pain points and challenges.
So, with a reputable merchant services provider like Wolf of Payments, you can obtain a gun and ammo merchant account without difficulty. WOP enables gun and ammo vendors to accept credit card payments at their shop and just on the go.
