Pawn shops have been around for a long time — all the way back to ancient Greece and Rome, in fact. Pawn shops have traditionally been an important way for people to obtain cash, and nowadays, in light of the very difficult economic conditions we all face, pawn shops are more important than ever.
Despite the indisputable value of pawn shops, credit card issuers deem them high risk, challenging pawn shop owners to obtain merchant accounts without paying excessive fees and incurring severe restrictions. This high risk status makes remaining competitive and offering customers credit card payment options difficult for pawn shops. The main reason pawn shops are considered high risk is the false impression that a high percentage of their sales comes from stolen goods. This is not the case at all, because pawn shops are highly regulated — but unfortunately the stereotype persists.