A new firm Stryk Pay, part of the Stryk Group USA, is one of the latest names to join the growing ranks of pro-gun banking companies popping up in today’s heated marketplace. As many financial service providers take anti-gun positions, refusing to provide services to the gun industry and blocking sales to gun buyers and sellers, other companies are using this as an opportunity to do business.
Big institutions like Bank of America and Citibank and everyday household names like PayPal and Square have adopted company policies that curb firearms-related businesses and sales to greater and lesser degrees. That leaves room for new companies like Stryk Pay, that are openly pro-gun, to step in.
“First it was the Obama Administration’s onerous Operation Chokepoint that was thankfully nullified by the Trump administration,” said Stryk Pay Director Ron Dan. “Sadly, today it is the Biden Administration — perhaps the most anti-gun administration in history — that has set the tone for financial institutions to simply refuse to do business with legal firearms businesses.”
“They are looking to accomplish this by not processing credit card transactions and not providing other essential services to our dealers and manufacturers,” said Dan. “Stryk Pay was created by our company — one staffed from top to bottom with people who are endemic shooters, hunters, and outdoor enthusiasts. All with experience in everything from running firearms companies and retail operations for firearms brands to high-risk credit card processing for e-commerce, wholesale and retail companies — as a solution to these discriminatory business practices.”
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Stryk Pay touts their PCI Compliance Level 1 security status, fraud protection, chargeback service and U.S.-homed customer service as primary reasons to do business with them, along with their willingness and ability to network with point-of-sale systems and other business portals depending on their clients’ needs.
Stryk also works with a number of other pro-gun banks and businesses for “redundancy in bank approval to ensure continuity of services,” in order to provide end-to-end support.
Of course, the biggest hurdle for any of these companies is trust. While it’s obviously an advantage to take a strong position as Second Amendment supporters, it still takes time to build standing among any community, especially one as tight-knit as gun owners.
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Stryk Pay was just filed as a corporation earlier this year, making it one of the newest pro-gun financial service companies to date.
The writing has been on the wall with a lot of larger financial institutions for a long time, and why many banks recognize the importance — and business potential — of the gun industry, some companies prefer to make a political statement with their money. It’s no surprise that other businesses are taking their place.
“We are equally invested in preserving and supporting the Second Amendment as we are to offering cost savings and processing solutions, regardless of the nature of the transaction,” Dan said. “It’s that simple.”
Through many mergers over the years I ended up as a BOA customer and when I left I told the bank representative the reason was because of BOA’s statements and actions opposed to the 2A. Years of low CD rates and crummy service did NOT force me out. The rep was a decent gent and he told me that BOA anticipated some level of fallout from activist gunowners.
Around the same time I also cancelled Citibank but I sensed that they did NOT care the reason for losing a customer. BOA does NOT solicit me any longer but Citibank still wastes the postage. I hope BOA and Citi felt the back lash from GO’s.