Gunbroker is an auction website that lets buyers place bids on guns that interest them. It works much like other online auction sites, including eBay. However, you won’t find handguns, rifles, or other firearms on eBay. Gunbroker.com stands out as a top e-commerce site for gun dealers and buyers. You’ll need a Gunbroker payment gateway to process your sales quickly and securely.
American consumers have bought a lot of firearms over the last couple of years. Civil unrest, the COVID-19 pandemic, and other types of uncertainty likely drive people to purchase guns they can use for personal protection. Between 2019 and 2020, gun sales increased by about 65%. The high demand has raised prices for popular firearms and ammo. If you own a gun store, it’s a great time to make money selling your merchandise to people seeking security.
Before your gun shop can start selling firearms on Gunbroker, you’ll need to find a Gunbroker payment gateway that accepts firearms merchant accounts. These are typically considered high-risk merchant accounts, meaning you might struggle to find a company that provides credit card processing and other necessary services to complete transactions.
Gunbroker lists its supported payment gateways. Notice that you don’t see Stripe, PayPal, Apple Pay, or Visa on this list. You’ll find Maverick and PaySafe, though. These Bankcard partners can help you avoid hassles and complete sales quickly at fair prices. In the following article, you’ll learn more about choosing the best payment gateway for Gunbroker and how Bankcard can help.
Best Gunbroker Payment Gateway Features
When comparing Gunbroker payment gateways, choose one that offers the following features. They will help ensure you get the best payment gateway for Gunbroker.
The number of identity theft and credit card fraud cases has been increasing for years. The Federal Trade Commission received 1.4 million identity fraud reports in 2020. In 2017, it received about 371,000.
Data encryption obscures credit card information, making it harder for thieves to steal data transmitted between customers and payment processors. Bankcard’s payment gateway uses a secure SSL connection when authorizing payments. The SSL encryption hides credit card data from anyone trying to intercept the transmission. That means you can sell guns, ammo, and accessories on Gunbroker without risking your customers’ private information.
Diverse Integration Options
Customers have unique payment preferences. You can meet their needs by choosing a Gunbroker payment gateway that integrates with plenty of options.
Additionally, choosing a payment gateway with diverse integration options makes it possible for you to unify every point of purchase. You can use Bankcard’s payment gateway with credit card terminals and mobile wallets if you sell firearms in your store or at gun shows.
The best payment gateway for Gunbroker will give your customers several payment options. It should also make it easy to track your sales and revenues. Bankcard integrates with QuickBooks so you can keep your records updated without doing more work than necessary. It’s an accurate, fast way to track your business’s performance.
Fast Payment Deposits
Gunbroker payment gateways require different timeframes to move money into your bank account. Some can take as long as five days. The less you have to wait, the easier it is to settle your accounts. With Bankcard, you can get next-day deposits. By shortening the time between the sale and your deposit, you can keep better track of your accounts and maintain a steady flow of money.
Do you Need Credit Card Processors or Payment Gateways?
A payment gateway makes it possible for issuing banks to authorize payments. If you already accept credit cards in your gun store, you’re familiar with “accepted” and “declined” messages you get when you try to process payments. You get those messages because the payment gateway communicates with the credit card’s issuing bank.
Credit card processors fulfill the actual transaction by moving money from the customer’s account into your account.
In many cases, you need credit card processors and payment gateways working together to accept credit card payments reliably. The two work together to ensure the customer has enough funds to complete the exchange.
The best payment gateway for Gunbroker makes it easier and more secure to accept credit cards, debit cards, and other online payments. Bankcard can fill this role by sending encrypted data between your virtual terminal, the bank, and vice versa. You get paid the correct amount without exposing anyone’s information.
Common Questions for Firearms Sellers on Gunbroker
You need a reliable payment gateway to sell firearms, ammo, and accessories on Gunbroker. If you haven’t already created an account and started selling, you probably have several questions. The following common questions and answers should help you decide whether you want to set up an account and start looking for the best payment gateway for Gunbroker sellers.
How Much Does it Cost to Sell Items on Gunbroker?
It doesn’t cost anything to create an account on Gunbroker. You can even list items for auction or sale without spending any money. Once you sell an item, Gunbroker charges you a percentage of the price.
The percentage you pay depends on your auction’s final price. Gunbroker charges a 6% fee on the first $250 of any sale. After $250, you pay a 3.5% rate.
Selling items on Gunbroker may not seem very clear at first. A few examples make it much easier to understand.
Let’s say you sell a Sig Sauer P365 for $500. You’ll pay a 6% fee on the first $250 of that sale. $250 times 6% equals $15. Gunbroker will charge you a 3% fee on the second $250 of that sale. $250 times 3.5% equals $8.75. You pay $23.75 on your $500 auction when you put the fees together.
Gunbroker makes it easier to earn more profit when you sell high-valued items. Let’s say you sell a Dan Wesson Bruin 45 ACP for $2,000. You still pay the 6% fee on the first $250. You only pay 3.5% for the remaining $1,750, though. That comes to $15 from the first $250 and $61.25 for the rest of the price. The total of $76.25 is a lower overall percentage than you would pay when you sell the cheaper $500 gun.
No matter how much you sell, Gunbroker will take a percentage of your money. Bankcard keeps fees for its Gunbroker payment gateway as low as possible so you can earn higher profits from every sale.
Can you Make Listings More Appealing to Buyers on Gunbroker?
Charging fair prices is probably the best way to attract buyers to Gunbroker. Still, you face a lot of competition from other sellers. Gunbroker offers a few services that can help your listings stand out. You’ll have to pay for them, however.
Some techniques to make your listings “pop” include:
- Getting an on-site sponsored listing for $4.
- Get an off-site sponsored listing for $7.
- Boldfacing your listing’s title for $1.
- Add color to your listing’s title for $1.
- Highlight your listing for $2.
- Adding a subtitle for $3.50.
- Put a view counter on your listing for $0.50.
You can find a complete list of options and fees on the Gunbroker website.
Adding these options could attract more attention to your listings. Ideally, more attention pushes up the auction price, and you’ll get paid more.
Regardless of whether you promote your listings, you need a Gunbroker payment gateway that ensures the auction’s winner has enough money to pay. Otherwise, you could find yourself paying promotional fees without selling your item.
How Long Does it Take to Get Paid After Selling an Item on Gunbroker?
Gunbroker’s Immediate Checkout feature lets you get paid almost instantly. The buyer submits their payment information when an auction closes, or someone chooses to pay the amount you specify on a listing. Your money is sent directly to your account if you have a merchant gateway that supports Gunbroker.
Not all payment gateways support Gunbroker. Bankcard lets you process payments through its partnerships with Maverick and PaySafe.
Once you set up your payment gateway, you can expect money to move to your account almost immediately after the completion of your sale. That speed should help you maintain accurate books and inventory to manage your online sales efficiently.
How Much Experience do I Need to set up a Gunbroker Payment Gateway?
As long as you choose the best payment gateway for Gunbroker, you only need to follow a few simple steps to start processing payments.
Click Toolbox > Setup Checkout on your Gunbroker account page to add your payment gateway. From there, check the box indicating that you want to enable a payment gateway for your auctions. A drop-down list shows the names of support payment gateways. Select the one you use.
Now, you fill out the required fields. You can even test the gateway by having Gunbroker charge you $1 to any of your credit cards. As long as the charge goes through, you know you’re ready to start processing payments quickly and securely.
If you want more details about setting up your Gunbroker payment gateway, visit this page for tips.
Could you use the Best Payment Gateway for Gunbroker on Your Business’s E-commerce Site?
There is a good chance you could use a Gunbroker payment gateway to process payments on your business’s website. You’ll often get the most straightforward, most successful payment processing from gateways that integrate with your e-commerce platform. For example, Bankcard integrates with partners like Shopify and WooCommerce.
Remember that you’ll need to pay fees for using e-commerce platforms to power your online sales. Depending on your monthly revenue, it could make sense to open an independent store instead of listing your products on Gunbroker.
Calculate your anticipated expenses with Gunbroker and various e-commerce platforms to make an informed decision leading to higher profits.
It’s also important to remember that you don’t have to process all sales directly through your online store. Your store could have an independent website with a unique web address. This approach could give you more control over how you present your products. When a shopper wants to buy a firearm, your website can redirect them to Gunbroker. Then, you can rely on Gunbroker and your Gunbroker payment gateway to handle the ordering process.
More often than not, the choice to use Gunbroker or start an online store relies on the answers to two questions:
- How much time do you want to spend managing online orders?
- Do you sell enough items online that you can increase your profits by starting an independent website?
Contact Bankcard to Learn More About Gunbroker Payment Gateways.
You deserve the best payment gateway for Gunbroker, so you can process payments quickly without spending much money on merchant services. Contact Bankcard to learn more about how you can benefit from a reliable Gunbroker payment gateway.