Square not a deal for firearms sellers

Posted by Non_mooching_artist 9 years, 3 months ago to Business
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These businesses are finding their livelihood is getting choked by the unfriendly business practices of Square and other credit transaction processors. Operation Choke Point claims no correlation, or remains silent on the role it has had in making this type of transaction nearly impossible. Cash payments are not always convenient for purchasers at shows. Restrictions on cash withdrawals from many banking institutions limit a purchaser's ability to pay cash for some gun purchases.
The continued hostile climate directed toward the firearm industry as a whole, remains firmly in place. Unless there is a greater outcry against these punitive credit processing practices, they will continue to run roughshod over firearms sellers. We all pay a price for this trampling of free market commerce, but most of all, those trying to just make a living in one of the most highly regulated and targeted industries in existence.
SOURCE URL: http://dailysignal.com/2015/01/12/firearms-sellers-say-theyre-choked-off-payment-processors/?utm_source=heritagefoundation&utm_medium=email&utm_campaign=morningbell&mkt_tok=3RkMMJWWfF9wsRolv6zJZKXonjHpfsX56%2B0uWaS1lMI%2F0ER3fOvrPUfGjI4FRMtiI%2BSLDwEYGJlv6SgFQrLBMa1ozrgOWxX0TD7slJfbfYRPf6Ba2Jw0rP0%3D


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  • Posted by Lucky 9 years, 3 months ago
    Possible solutions-
    State/Fed rules requiring no discrimination in business dealings (more harm than good)
    Use of Bitcoin and similar. Bring in cash to Bitcoin terminals.
    Using checks (remember?) maybe even pre-printed forms drawing on the buyers non-check bank account
    Business opportunity for competitors to the big credit card companies.
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    • Posted by Robbie53024 9 years, 3 months ago
      Problem with most of those is that the feds can still put pressure on the banks or other institutions to "choke" the transactions, and they will. And if a seller uses cash, then when they make a large cash deposit, they will be targeted as a drug dealer, and if they make smaller cash deposits, they will be accused of trying to skirt the laws on size of deposits. It's a no-win situation.
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  • Posted by khalling 9 years, 3 months ago
    I think your point is well-taken. Is their an industry other than medicine which is more regulated than the firearms industry. of course the financial industry is incredibly regulated. but there are winners and losers depending on your connections
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    • Posted by 9 years, 3 months ago
      Not so much. As in highly regulated industries. ATF keeps things buttoned up for their own purposes, and lined pockets. Not all are on the take, but all are motivated by power. The fact that one of the businesses mentioned in the article still has money tied up with eBay is inexcusable.
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  • Posted by ObjectiveAnalyst 9 years, 3 months ago
    Facts like the true benefit of firearm ownership are irrelevant. Cost benefit analysis... number of crimes thwarted vs. committed... doesn't matter. Emotionally driven nonsense.
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