Hunts have been banned from taking card payments by a major financial services firm in the latest example of de-banking.
SumUp, a card reader provider, has included “hunting clubs/activities” on its list of “restricted businesses” alongside “illegal or legally questionable businesses and products”, escort services and fortune tellers.
A number of hunts have had their machines switched off during fundraising events, potentially losing thousands of pounds, The Telegraph can reveal.
Companies linked to shooting are also targeted as “guns, firearms, airsoft guns, munitions sale and distribution” are on the blacklist.
Card readers are used to take payments at events and the move means the hunts are unable to accept credit or debit cards from their customers.
Couple of questions – is this normal among such firms? So, are all hunts gun clubs, being unbanked?
Secondly, how many customers does such an intermediary need? I would imagine that the software, readers, all that, is a “company in a box” style arrangement.
So, if some few hundred makes a business, why not have a go at it? If it’s a few tens of thousands then that would be more difficult.
Anyone actually know the nuts and bolts here?
Of course, this is also how Wirecard started out (with sex sites) but I know how that scam worked so once we’re up and running we can make a fortune. For a bit.