Snapshot: The Firearms Accessories Landscape
The firearms industry is massive, with recent statistical data putting it at a market size of $15 billion (source: IBISWorld). Given this, the sale of firearms accessories naturally offers significant opportunities for businesses. Gun accessories can include holsters, handguards, sights, grips, stocks, and more.
When considering the sales landscape of high ticket items like firearms, many merchants see benefits from offering useful products that can increase the overall transaction dollar amount. Furthermore, in an industry where consumers often enjoy customization and products that reflect their lifestyle, unique components and accessories can command great loyalty from engaged consumers (as well as the pricing power that goes along with it).
Merchant Services For Firearms Accessories Businesses
If you legally operate a business that offers firearm components and accessories, you may have been previously turned down for a merchant account from a mainstream bank or merchant services company.
Or worse, your firearms accessories may have had its merchant account terminated with little or no previous notice.
Many banks and merchant services providers will not accept your business for one of two reasons:
- Firearm sales are regulated by the federal government, and therefore, additional underwriting is required by the credit card processor.
- Because firearms and the 2nd Amendment are a “hot button” political issue, many banks and merchant services companies have taken an “anti” 2nd Amendment stance, and refuse to work with component & accessory businesses, even if they are otherwise highly desirable clients.
Tactical Payments, by contrast, was founded with the exact mission to serve firearms industry businesses. We will offer you competitive pricing, easy integration, and friendly, USA-based customer support.
Components & Accessories Merchant Account FAQs
The following are the most frequently asked questions we get from businesses interesting in being approved for a firearms components & accessories merchant account merchant account from Tactical Payments.
What kinds of components & accessories businesses do you accept as merchants?
Tactical Payments accepts a wide variety of firearm component and accessory businesses, including brick and mortar retailers, online eCommerce retailers, and producers of holsters, scopes, and similar accessories. Additionally, we accept merchants who sell all types of sporting, hunting and outdoor apparel & accessories, including archery equipment and tactical gear. All merchants must abide by all applicable Federal, State, and Local laws and regulations.
ADDITIONALLY, for firearms dealers: Must have an FFL if selling, manufacturing, or importing firearms or destructive devices; must not sell all accessories needed to assemble a gun if the business does not have an FFL.
What criteria does my components & accessories business need to meet, to approved for a merchant account by Tactical Payments?
To be approved for a merchant account by Tactical Payments, your firearms components and accessories business must meet the following criteria: (a) your business must be located, and operate, solely within the United States of America (and the business owner must be a US citizen with a SSN); (b) you must be willing to provide the following documentation: (1) a voided business check or verified bank letter, (2) a valid government ID such as a driver’s license, (3) 3 months’ previous business bank statements, or personal bank statements if the business is a startup, and (4) 3 months’ previous credit card processing statements, if applicable.
ADDITIONALLY, for firearms dealers: Must have an FFL if selling, manufacturing, or importing firearms or destructive devices; must not sell all accessories needed to assemble a gun if the business does not have an FFL.
Is Tactical Payments compatible with my existing ecommerce or Point Of Sale (POS) software?
Components and accessories businesses typically have a preferred ecommerce or POS (Point Of Sale) software system they use. Because Tactical Payments works with most major payment gateways (including Authorize.net, USAePay and NMI), our merchant accounts integrate with most popular ecommerce and Point Of Sale systems. Tactical Payments is compatible with Shopify, WooCommerce, BigCommerce, Magento, Volusion, and many other ecommerce software packages, and is also compatible with GunBroker.com.