Operating a gun store comes with its own set of unique challenges, and one of the most crucial aspects of managing such a business is selecting the appropriate merchant services provider. Gun stores, like any other business, require a reliable and secure way to process payments from their customers. However, not all payment processors are gun-friendly, and some have even been known to freeze or terminate gun store accounts without warning. In this article, we will explore the importance of choosing the right merchant services for gun stores and discuss some well-publicized incidents involving PayPal, Stripe, and Square.
PayPal’s History with Gun Stores
PayPal is arguably most notorious for closing online gun retailers, without prior notice, leaving many companies scrambling to find an alternative payment provider. These types of incidents highlighted the precarious relationship between gun stores and payment processors that do not support firearms sales.
Stripe’s Stance on Gun Stores
Stripe, another popular payment processor, has also been known to remove their services from gun stores. In their terms of service, they explicitly mention a prohibition on using Stripe for the sales of firearms, ammunition, and certain firearm parts. As a result, gun stores that unknowingly use Stripe as their payment processor may find themselves with frozen accounts and lost revenue.
Square’s Relationship with Gun Stores
Square, a popular mobile payment processor, has also had its fair share of controversies with gun store owners. In 2013, they updated their terms of service to exclude the sale of firearms, ammunition, and other weapon-related products. This change led to the suspension and termination of numerous gun store accounts, causing significant disruptions to their businesses.
The Importance of Choosing the Right Merchant Services
Given the complexities and potential pitfalls of partnering with the wrong payment processor, it is essential for gun store owners to carefully evaluate their options. Choosing a gun-friendly merchant services provider can help prevent sudden account freezes and lost revenue while ensuring compliance with federal and state regulations.
Some factors to consider when selecting a merchant services provider include:
- Transparent pricing: Look for providers with clear pricing structures and no hidden fees.
- Security: Ensure that the provider complies with the Payment Card Industry Data Security Standard (PCI DSS) to protect your customers’ sensitive information.
- Customer support: Choose a provider with a track record of excellent customer service, as this can be critical when dealing with issues that may arise.
- Gun-friendly policies: Opt for merchant services providers that specifically cater to the firearms industry, as they are more likely to understand the unique challenges and regulations that gun stores face.
The right merchant services provider can make all the difference for a gun store’s success. By carefully researching and selecting a gun-friendly payment processor, gun store owners can avoid potential issues with account freezes and ensure a secure, compliant, and hassle-free experience for their customers. It is essential to stay informed about the ever-changing landscape of payment processing and be prepared to adapt as needed to maintain a thriving business.
By considering these factors, gun store owners can better evaluate their options and choose a payment processor such as 2A Commerce that meets their unique needs, ensuring a secure and successful partnership. In fact, 2A Commerce will match or beat any rates in the industry or we’ll pay you $50!