Another one bites the dust

GunTab -

ArmsPay has folded. It was hardly the first "online gun payments" company to fail, but it might be the last.

What was ArmsPay?

ArmsPay was an online payment service designed to help buyers and sellers complete online gun transactions, including GunBroker transactions. Their pitch was simple:

We protect the Buyer by safely and securely taking payment from a Buyer's checking account so that Buyers don't have to release personal information

It was backed by Rainier Arms, a large gun retailer based out of Washington state. It offered credit card processing for third-party transactions under the Rainier Arms card processing account.

It seems ArmsPay failed due to insufficient customers and transaction volume. Payments businesses are low-margin, so only the most successful can build enough volume to survive.

What similar companies have failed?

ArmsPay isn't the first "online gun payments" company to go under. Many have tried and failed in recent years:

What similar companies have succeeded?

GunTab is the only company to have succeeded in the online gun payments space. It launched in 2015, so has been operating for over 10 years. It is now regarded as "the PayPal for guns" and the industry standard for peer-to-peer gun payments online. It's officially partnered with all the major marketplaces, including:

  • GunBroker
  • Armslist
  • GunsAmerica
  • GunsInternational
  • Guns Classifieds Network
  • etc.

What's so different about GunTab?

GunTab is the only way for ordinary people to exchange gun-related payments online. It supports both credit card and bank account payments.

Further, GunTab is the only payment service with a double guarantee that fully protects both sides. It's also worth noting it's cheaper than PayPal and Venmo. It's free to open a GunTab account if you want to try it.