Credit Card Processor Ends Relationship with Gun Store

Credit Card Processor Ends Relationship with Gun Store

October 2, 2013         Written By Bill Hardekopf

Hyatt Gun Shop, one of the nation’s largest gun stores, has had a four-year relationship with its credit card processing company, But the processor has recently decided to cut ties with Charlotte-based Hyatt.

Why the sudden change? Because the business sells guns.

The processor, a subsidiary of CyberSource which is owned by Visa, sent an email to owner Larry Hyatt, stating that the sale of firearms was against their terms of use, so they had to cancel the account. Those terms have not changed over the last four years, so it is odd that this problem was not addressed sooner.

Several Visa executives are strong supporters of President Obama’s election campaign, and the President has been quite active in his quest for gun control. Other gun companies have been dropped from the program via similar emails since Hyatt got the news.

Not knowing that Hyatt Gun Shop sold firearms is nearly impossible, especially considering the name of their business.

The owner of the business said it took a full week and thousands of dollars to find another credit card processor that would handle the processing of their online transactions.

The information contained within this article was accurate as of October 2, 2013. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Bill Hardekopf

Bill Hardekopf is the CEO of and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
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