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Payment Processing for Self Defense Products
As of 2018, the martial arts and self-defense market had a valuation exceeding $4 billion, presenting a robust opportunity for new business ventures. However, starting an online self-defense business requires partnering with a high-risk payment processor equipped to handle card payments for such products.
Given the ongoing growth yet stringent regulations in the self-defense sector, it’s considered “high risk” by banks and payment processors. To successfully profit in this industry, the essential choice is a processor like Mega Payments, which specializes in challenging merchant services for self-defense items, tasers, and stun guns.
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Why You Need a Specialized Payment Processor for Self Defense
Selling self-defense products like tasers, stun guns, and other similar accessories contravenes the credit policies of many banks due to their classification as weapons. Traditional banks and standard credit card processors, which generally cater to low-risk industries such as apparel, accessories, and sporting goods, find the risks associated with selling potentially harmful items like mace, high-velocity tasers, and stun guns too high.
Advantages of Using a Dedicated Credit Card Processing Service for Taser Self Defense
Operating with a specialized payment gateway tailored for self-defense tasers and stun guns facilitates the launch and operation of your self-defense business. This approach helps avoid the abrupt account closures and penalties that conventional payment processors impose on high-risk merchant accounts. Major payment services like PayPal, Stripe, and Square prohibit the sale of self-defense products and will terminate your account upon discovering such transactions.
Even with an initial approval for your self-defense merchant account, the stability of your account is precarious. Should a traditional processor detect the sale of high-risk items, they may freeze, disable, or entirely deactivate your account without prior warning. This can occur weeks or months after initial approval, following a process that involves auto-approving merchants and performing underwriting procedures afterward, a system that poses significant risks for businesses in the self-defense sector.
When opting for a self-defense merchant account with a high-risk payment processor like Mega Payments, you benefit from a partner knowledgeable about the industry risks and committed to supporting your business needs.
Steps to Secure a Self Defense Merchant Account
Securing a specialized self-defense merchant account is straightforward, even for those new to the process. Start by selecting a trusted high-risk payment processor. Once chosen, prepare the following for your application:
- Personal Information: You’ll need a valid driver’s license or government-issued ID, along with your full name, mailing address, and social security number.
- Bank Accounts: Provide routing and account numbers for your personal and business accounts. Submitting up to three months of bank statements can streamline the application.
- Online Presence: An established online presence is crucial to demonstrate your business’s legitimacy to the payment processor.
After submitting the necessary documents, your chosen high-risk payment processor will partner with a bank that recognizes your business type and can conduct underwriting before final approval. They will then contact you to finalize your account setup.
Choosing Mega Payments as Your Trusted Self Defense Payment Processor
Initiating your application with Mega Payments ensures support from a dedicated account manager who will assist you in setting up an online payment gateway for stun guns, tasers, and other self-defense items. Specializing in high-risk industries, we have the necessary banking relationships to facilitate your approval. Avoid the risks associated with traditional payment processors and ensure your merchant account’s stability by letting us cater to your specific needs for your online self-defense business.