What is PISTOLPAY?
PISTOLPAY was started by a group of entrepreneurial Buyers who were frustrated with the lack of acceptably safe, convenient, and flexible purchasing tools for the online transfer of money for high value goods.
Designed from the ground up, PISTOLPAY abides by the following principles:
- Create the safest payment method for both Buyers and Sellers
- Create a simple, easy to use, and highly flexible user interface
- Provide our Buyers and Sellers with high quality communication at all relevant times during the financial transaction
- Create a value proposition for our users by providing our services at the lowest cost possible, without sacrificing transaction security
- Associate with the strongest service providers in order to provide our clients with the utmost in security and performance
How secure is PISTOLPAY?
In order to enhance financial position and provide best value, PISTOLPAY has created strategic partnerships with Merchant Services LTD and BB&T Bank. Merchant Services LTD is an industry-leading credit card processing service provider that provides secure, fast, cost-effective credit card and ACH processing solutions with over a decade of experience and a yearly processing volume approaching 14 billion USD. Merchant Services LTD has a PCI–Compliant (the highest security standard in the financial industry) headquarters in Miami Beach, Florida, and satellite offices across the country, passing physical site visits performed by both Visa and MasterCard’s independent auditors every year to assure complete physical and electronic data security.
Who can use PISTOLPAY?
Anyone over 21 years of age who has a valid credit card or debit card, or an active bank account can use the service.
What happens if the Buyer is not happy with their newly delivered items?
First and foremost, we believe that “communication is everything.” We encourage the Buyer and Seller to communicate freely. Once both parties have discussed the issue, in the case that no resolution is accomplished, the Buyer has 48 hours to decline to accept the item before the Seller will be paid in full. We do this to eliminate stagnation in the deals. Please note that delivery of the goods to the Buyer’s Dealer begins at the start of the 48-hour inspection period. If an item is declines, we will deduct the shipping and handling fees for the return of the item to the seller and refund the balance of the buyer's funds, less the buyer's portion of the fees.
Where can I use PISTOLPAY?
PISTOLPAY may be used on any website or in any transaction that allows you to make your own payment arrangements. Our services will simplify purchases from auction sites, equipment exchanges, forums, or even Internet commerce sites.
What is your fee schedule?
In order to provide you with the safest, easiest and most convenient services possible, PISTOLPAY earns a small transaction fee for providing the financial intermediary services in each transaction. The fee charged by PISTOLPAY will be split equally between the Buyer and Seller in a transaction. As such, a Buyer will have their credit card, debit card or bank account charged with the transaction amount, plus the Buyer’s share of our fee. Likewise, the Seller in a transaction will receive the transaction amount, less the Seller’s share of our fee. Since PISTOLPAY’s transaction costs vary depending on the type of payment made by the Buyer in a transaction, and because PISTOLPAY is committed to provide its users with the best lowest transaction costs possible, the fees charged to the Buyer and Seller by PISTOLPAY in a specific transaction will fall into one of the following two categories:
Credit and Debit Card Transactions:
For transactions involving payments made using a Buyer’s Credit Card or Debit Card (MasterCard, Visa, Discover and American Express based payments), Pistol Pay will charge the Buyer 2.7% of the transaction value, and will charge the Seller 2.7% of the transaction value, for a total transaction fee of 5.4%.
ACH Transactions (Coming Soon!):
For transactions involving payments made using an Automated Clearing House (ACH) direct debit transfer from the Buyer’s checking or savings accounts, PISTOLPAY will charge the Buyer 1.6% of the transaction value, and will charge the Seller 1.6% of the transaction value, for a total transaction fee of 3.2%.
Do I need a separate account to be a Buyer or a Seller?
To make it easy on you, you can use one member account to participate on both sides of transactions. However, since we remit funds to Sellers via ACH direct deposits to their bank accounts, there will be a bit more information that we may require before you act as a Seller.