90 Miles From Tyranny : Firearms Sellers Say They’re Being Choked Off From Payment Processors

Sunday, January 18, 2015

Firearms Sellers Say They’re Being Choked Off From Payment Processors

Go to a gun show, and you won’t find many merchants using PayPal.

You’ll also find few vendors using popular payment processors such as Square, Stripe and Spark Pay.

That’s because some payment processors explicitly prohibit the use of their systems for online — and some in-store — sales of firearms, ammunition and certain accessories.

Retailers in the gun industry say they’re being discriminated against.

“Being shut out from mainstream payment processors makes us feel like we are part of some type of shady business when, in fact, there is more regulation and documentation required for federally licensed firearms dealers than most businesses,” said Trevor Blandford of Terminal Performance Associates in Caroline, Va.

Blandford, 21, has been working gun shows for his family’s business since he was 14 years old. Recently, his parents named him general manager of Terminal Performance, which is known for its custom-built pistols and rifles and originally finished wraps. He and his family sell their merchandise online and at local trade shows.

To process payments, most merchants use some sort of payment processor.

Payment processors are companies, often third-party outlets, which handle credit card transactions between merchants and banks.

The concern some firearms sellers expressed to The Daily Signal is that restricting their access to some of the largest payment processors in the country — who offer the lowest transaction fees in the business — puts them at an unfair disadvantage to other industries.

Add that to the long list of regulations firearms sellers already face, and some say it’s not even worth attempting to start a business.

“In most of the states, ....

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1 comment:

tsquared said...

Almost every time I use my Bank of America card to buy something online the is gun related I get a notification from BOA that my account has been compromised and they issue me a new card with a new number. I have had 4 different MasterCard numbers in the past year - I have used the card nine times, six of those online. I don't have that problem with my USAA credit card.