While businesses operating in other industries may turn to payment service providers—such as Stripe, Square, and Paypal—for credit card processing, these companies don’t extend their services to firearms businesses. That said, firearms businesses must rely on traditional payment processors in order to accept payments. However, processors unfamiliar with the firearms industry can hinder your operations more than they help.
Below is a list of issues firearms merchants often encounter when partnering with a payment processor unequipped to meet the demands of their industry:
Many Providers will close your merchant account if they identify it’s being used to sell firearms or related accessories. At Coast2co we stand by your Second Amendment Rights.
If your chargeback ratio is too high—a common occurrence in the firearms industry due to higher transactions being processed less frequently—your funds can be frozen for up to six months. Coast2co has security measures in place to make sure your funds stay yours.
Many gun and ammunition customers require flexible payment options to afford their big-ticket purchases. If you can’t accept credit cards, you may lose out on sales to firearms customers without the available cash to afford their purchase.
Depending on your operations, you’ll need at least one of the following merchant accounts for your firearms business:
If you plan to open an online firearms, accessories, or ammunition business, you need an eCommerce merchant account. Once approved and integrated into your website, you can easily accept payments on your eCommerce site.
If you plan to operate a brick-and-mortar location, you need a retail merchant account. This type of account typically includes either a point-of-sale system or a stand-alone terminal.
If you plan to take payments over the phone, you need a MOTO merchant account. An over-the-phone or MOTO transaction requires a payment gateway, through which you input the transaction data.
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Coast 2 Coast Merchant Services LLC is a registered partner/ISO of Elavon, Inc. Georgia
Registered ISO of EPX, TSYS
