Merchant Processing for Firearm Dealers and related industries are facing more and more challenges in keeping their doors open, especially since COVID-19 started to push legislators and companies to do radically new things.
One of the largest merchant processors, First Data, stopped working with companies that sold firearms. They decided it was no longer something they were interested in. The reason being is that when COVID happened, many people decided to purchase firearms in order to feel more secure. This in turn exposed a few issues regarding gun sales that exposed processors to more risk than what they previously believed was there. Instead of tightening up the approval process they just decided it wasn’t something they wanted to accept anymore, which turned into many businesses losing their opportunity to process from one day to the next.
Worldpay on the other hand decided it still wanted to accept firearms and in order to not expose themselves to more risk, they tightened the approval process requiring more information to reduce the potential for risk that was exposed last year. This new approval process has only been going on for about a year now, so older firearm companies were in for a surprise when forced to fill out mountains of paperwork just for the right to swipe those credit cards.
We work with Worldpay, and they are gladly accepting business from e-commerce firearm businesses and once approved will not be shut down on a whim.
If you're struggling to find a merchant processor for your firearm business, I understand your concern and offer an open-ended invitation: If you choose to work with us in the future we are happy to help. I appreciate your time and look forward to hearing from you in the future.