VISA, Clarify Policy on Credit Card Processing for Firearms Sales

December 16 2013
by GSL Staff
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guns_credit_cardsYou might remember a while back when we reported that, an online credit card processor and a subsidiary of VISA canceled the account of a major gun seller without warning.

The Hyatt Gun Shop, one of the largest gun retailers in the US, abruptly had their credit card processing account cut off for supposedly violating a no firearms policy held by the company.

Following that story, the NSSF reached out to and VISA and finally got a response.

According to an NSSF member email,

This week we spoke to CEO, Mike Walsh and Martin Elliot of Visa. We were thanked for our constructive tone of inquiry that had asked for a dialog and the opportunity to further educate on the regulatory requirements governing the sale of firearms. As sometimes happens with corporate acquisitions, it takes time to get all newer business units in alignment with that of the entire corporation and that’s what occurred here.

Our outreach succeeded in getting Visa to conduct a review of its subsidiary’s “terms of use” policy. Our letter and their review resulted in their amending the policy to remove the offending provision. The executives stressed that they support all forms of legal transactions, including legal online firearms sales.

Great news. It would have been nice if these companies had the correct policies in place to begin with.

We’ll continue to keep an eye out for other financial institutions who discriminate against gun dealers.

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