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Credit card firm cuts off nation's No. 1 gun store --- for selling guns | Mobile Washington Examiner

A subsidiary of Visa, a key Obama campaign donor, that specializes in credit card transactions has abruptly stopped servicing the nation's largest gun store after four years because the store sells guns, a fact the owners never hid.

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."


I guess they didn't realize a gun store sells guns. Must be a coincidence that the company was a big campaign supporter of Obummer.
 

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So? Real men pay cash for their firearms and ammo.
 

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Typically a bank or credit union will choose only one debit card brand (e.g. Visa or MasterCard) for systems efficiency. Credit cards have a different business case/profitability model which make it easier for banks to issue multiple card brands - some banks issue MC, Visa and Even Amex cards. Bottom line is that if you want to change your debit card from a Visa brand to a MasterCard brand you will have to find a different bank. Unfortunately Visa dominates the debit card market so finding a MC branded debit card takes a bit of work.
 

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Interesting. I have one of the NRA-branded Visa cards from First National bank. The NRA gets a percentage of every purchase I make with it. It's meager, but it's something. I use it specifically for all my ammo and training purchases.

I wonder when that'll get cancelled.
 

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I always buy guns in cash, why would I want the shop to have to pay 3-5% more and pass that cost on to me. There are two economies, credit card economy and cash economy. Cash will go way further than credit. Seemingly because most cash work happens at 15% less since its never recorded. Oh well.

If I had it my way I wouldn't accept checks or credit cards. I'd keep the banks right out of my business life. If I did that I could get 10% more work done a year skipping clearing times, and holds.

Remember you don't need a credit card or debit card, they need YOU.
 

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There are a lot of benefits to both consumers and merchants offered by payment cards. But I agree it's a personal decision to use them or accept them at the point of sale.

Would hope oped the NRA takes a stand against Visa and begins shopping around for a new brand to switch to when their contract expires.
 

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A subsidiary of Visa. Not all of Visa. I will continue to use my NRA credit card. I don't know about you guys, but the LGS around me offer a 3% discount for cash. I never use a credit card for my gun purchases.
 

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The credit card issuers and the credit card processors are not the same. So far, its been the credit card processors who have stomped on our rights.
 

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kev74 is right. This is a Credit Card processor, not the Credit Card issuer or network. Any business that accepts credit cards has to have an account with a CC processor. In this case, it was Authorize.net, which is a very large processor and one of the leaders in online CC processors. These CC Processors cost businesses between 3 and 5 percent of the total transaction cost and only a percentage of that actually goes to Visa, MC, etc.

There is nothing you can do as a consumer to select CC processors, that is a business decision of the reseller.
 

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So, how do I get rid of my Visa card for a Mastercard? I've got Hudson Valley Federal Credit Union.
HVFCU used to have a Mastercard, not sure if they do anymore though. My HVFCU Visa is for emergencies only, I've switched almost everything over to Amex for purchases (cannot beat HVFCU though for mortgage/auto loans).
 

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kev74 is right. This is a Credit Card processor, not the Credit Card issuer or network. Any business that accepts credit cards has to have an account with a CC processor. In this case, it was Authorize.net, which is a very large processor and one of the leaders in online CC processors. These CC Processors cost businesses between 3 and 5 percent of the total transaction cost and only a percentage of that actually goes to Visa, MC, etc.

There is nothing you can do as a consumer to select CC processors, that is a business decision of the reseller.
You're right on as far as structure goes. My point is that if the subsidiary doesn't support you can argue that by default the parent company is not a supporter. The payments business is complex with many intermediaries and processors in the mix that consumers have no way of selecting or even knowing are involved. The same transaction made at the same merchant on separate occasions may not travel the same path each time. The only way we as consumers can influence is to support or boycott those identifiable players. My $0.02.
 

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Quick everyone, burn all bridges with Visa! This approach worked out well with Starbucks!
 

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You're right on as far as structure goes. My point is that if the subsidiary doesn't support you can argue that by default the parent company is not a supporter. The payments business is complex with many intermediaries and processors in the mix that consumers have no way of selecting or even knowing are involved. The same transaction made at the same merchant on separate occasions may not travel the same path each time. The only way we as consumers can influence is to support or boycott those identifiable players. My $0.02.
The best thing that we can hope for is that those of us who own businesses (either in the firearm industry or elsewhere) avoid doing business with CC merchant providers who do things like this and make sure our current providers know why we're switching. I am going to do some research to see if I can find out if my business' current provider has done any actions like this.

And, you are right about how convoluted the CC processing network is. You might actually be working with a reseller of a reseller of a merchant provider. So, you have to work your way up to see who is actually the processor.
 
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