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View Full Version : Credit card firm cuts off nation's No. 1 gun store --- for selling guns


Darryl Licht
09-27-2013, 11:55 AM
Hyatt Gun Shop of Charlotte, N.C., told Secrets that the subsidiary, Authorize.net/CyberSource, simply sent an email to owner Larry Hyatt to announce that it was suddenly breaking off the business relationship. The reason: “The sale of firearms or any similar product.”

The company email said that gun sales violated a section of the service agreement the two signed over four years ago and after Hyatt went into detail about its sales and products -- and name.

“We’ve never seen anything like this,” said Justin Anderson, Hyatt’s marketing director. He said it took a week and thousands of dollars to line up a “gun friendly” credit card processor for online sales.

Full story here:
http://washingtonexaminer.com/credit-card-firm-cuts-off-nations-no.-1-gun-store-for-selling-guns/article/2536417

Gutz
09-27-2013, 11:57 AM
If it was part of the contract, then....

ChrisC
09-27-2013, 12:18 PM
People should learn to read the fine print. He signed a contract and he broke the rules. Plain and simple. Don't like the rules, then don't sign the contract.

TomV
09-27-2013, 12:51 PM
If it was part of the contract, then....

People should learn to read the fine print. He signed a contract and he broke the rules. Plain and simple. Don't like the rules, then don't sign the contract.

Why did the Processor LET him sign the contract?

It was quite obvious from the name of the business what they were selling.

Uriah02
09-27-2013, 12:57 PM
Hopefully they will be able to find a creditor who does want to do business with them.

ChrisC
09-27-2013, 1:25 PM
Why did the Processor LET him sign the contract?

It was quite obvious from the name of the business what they were selling.

Who cares, he signed it, he should have read the fine print. No ones fault but his own.

Sakiri
09-27-2013, 11:59 PM
Who cares, he signed it, he should have read the fine print. No ones fault but his own.

"hey guys, we sell guns and would like you to process our credit card payments."

"okay"

*gets cut off from credit processing*

"sorry we had to cut you off because you were selling guns when the contract said not to"

"we told you we were selling guns when we set up the account... idiots"

2nd Mass
09-30-2013, 2:52 PM
Banks do similar things with loans to some industries. Always sounded like discrimination to me.

kcjr1125
09-30-2013, 2:55 PM
Why did the Processor LET him sign the contract?

It was quite obvious from the name of the business what they were selling.

That is the funniest thing I have ever heard.

Gunsmith Dan
10-01-2013, 12:09 AM
Plus why wait 4 YEARS before telling them that?

If it was in the original fine print 4 years prior then how did they not notice all of the charges were for firearms????

Most likely the processing company changed their policies after the original contract was signed. You are suppose to get a written letter stating what was changed to give you the option to either agree or cancel the contract, but many companies do not do it and just give you the "lost in the mail" line.

I had this happen with Intuit for Quickbooks because they offered credit card processing with the program. I made the application and waited and waited and got no response. I finally called them after a couple of months and they were like "Ohh you were denied because you deal with firearms (even though I don't sell firearms I just repair them) and that violated section so and so".

I read the section titled "Illegal items prohibited" where alcohol, firearms and explosives were listed, but porno and medicinal marijuana were ok to process.

mage
10-01-2013, 9:08 AM
This is actually an important issue.

Nearly all consumer commerce runs through credit processing companies. It is our de-facto medium of exchange, it is our money. Cutting an industry off from credit card processing can destroy it.

Some people are going to say these are private businesses, but these are a government enforced oligopoly. Alternate means of exchange have been stamped out by the feds as "illegal currencies".

As things stand, if you want to run a successful business, you must allow the credit processing companies to control what you can sell. This has been particularly problematic for the porn industry, but now it seems to be coming to the gun industry.

Right off the bat, you're looking at losing a percentage point or 2 off your gross sales.

Whiterabbit
10-15-2013, 9:56 AM
Plus why wait 4 YEARS before telling them that?


Because the court of public opinion didn't crucify guns 4 years ago via Sandy Hook?