Firearms Merchant Accounts For Gun Retailers

March 16, 2023

Firearms Merchant Accounts

Firearms merchant accounts are constantly under fire by big banks. With more regulations than ever, gun retailers are looking for new ways to expand businesses in a highly regulated market. And with some major banks deciding they won’t fund them any longer, they are looking for new solutions.

A gun dealer merchant account is a high risk for some banks. Luckily firearms accessory ecommerce stores and gun retailers alike can find what they need with PayKings. We’ll help you create custom payment processing solutions with your own sustainable firearms merchant account.

Opening Your Gun Retailer Merchant Account

PayKings has kept a finger on the pulse of all the frenzy in the media regarding online gun retailers. We are among the leaders in the industry. We offer underwriting services that make payment processing accessible for those seeking firearms merchant accounts.

With Congress taking a “hands-off” approach on the topic of firearm regulations altogether, the banks have stepped in to take a stance. Financial institutions like Citigroup, have made changes in recent years after bad publicity affected the industry. They announced they’ll prohibit the sale of firearms to any customers who do not pass a background check and to keep guns out of the hands of people under 21.

Additionally, the bank is said to bar any sales of bump stocks and standard-capacity magazines. They took this further and applied these policies to all clients of Citigroup who offer credit cards backed by the institution. Moreover, they expect the same practices from any other banking services that work through the company.

Selling Firearms Online

Firearm Merchant AccountWith Citigroup pivoting their brand association, by not opening firearms merchant accounts, it’s more difficult to find mainstream providers to bank with. In turn, this affects online gun retailers looking for credit card processing or any other payment services.

What does this mean for you if you’re a business that needs a firearms merchant account? It means you need to seek out a reputable payment processing company, like PayKings.

Software for Gun Merchants

If you’re trying to organize inventory and stay ATF compliant, there are great software tools to help you. As a leader in the firearms payment processing space, we’ve teamed up with companies that provide the best firearms software for gun merchants. One company is Gun Store Master, which offers free demos and provides video tutorials for new users. Or try Celerant if you’re shopping for a shooting range POS system.

Businesses that sell firearms may find it very difficult to find the right payment processing solutions that can meet their needs. Now more than ever, banks are fearful of the potential legislation “guns” or “firearms” may bring against them. Nonetheless, we offer firearms merchant account solutions for you and are dedicated to making your transition to accepting debit and credit card payments online as easy and seamless as possible.

Contact us and discover the many options we have available.

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March 16, 2023 | High Risk Merchant Account | Guest Post