Early next week we’ll be launching some exciting new updates to our system. These changes are simple but profound because they allow for both more functionality and move us closer to our ultimate vision of a digital ammo wallet.
The first one is something folks have been asking about for a while now: eCheck / ACH!
Thanks to changes announced by anti-2A credit card companies and the International Standards Organization (ISO) in September, we accelerated our plans to add ACH so our customers could ditch credit cards and avoid getting tracked when making ammunition purchases.
As of this morning, credit card purchases are still just classified as “Sporting Goods” but who knows how long that will stay that way. Honestly, we might never be moved over to the new classification because we don’t sell guns. It isn’t clear how or when that change will happen - it is up to how our payment processor decides to classify us in the future.
That said, we still want to get ahead of the issue so early next week (Mon or Tues) we’ll be launching our new ACH capability!
This will allow you to make one time or reoccurring payments with your bank account and skip the credit card. Unfortunately the way our system is built now, you still need a credit card on file but we don’t ever need to charge it. Eventually no credit cards will be needed at all… baby steps.
Here is another big update related to ACH: starting next week, every customer will have an AmmoSquared Wallet that will look like this:
Your AmmoSquared Wallet is where your US Dollars (“USD”) and ammunition will live. When you set up a one time or recurring transaction using the panel to the right of the wallet, those funds will go into your USD wallet.
The idea is that eventually everyone will first put money in their USD wallet then use that to purchase (or exchange) those funds for ammunition. This is similar to a crypto wallet or stock brokerage account where you fund it with USD first then purchase the assets you want.
You’ll notice that we also renamed our “Subscription” section to “Reload”. This is where you set up a “Reload” for your ammunition. Your ammo reloads will pull from the USD you have in your wallet first and if no funds are available, will hit your credit card on file (see what I mean by we’re not quite there yet - baby steps). You’ll set up everything ammo related under the Reload section still.
In addition to these big changes we’ve made some other terminology changes to the site. We’ve broken out ammo inventory into either “available” or “pending”. Available inventory can be shipped if there enough to make a box (we don’t ship in baggies!). Pending is just that, still on order and pending physical delivery to our warehouse.
These are exciting changes that really start to move us toward our vision of using ammunition as a store of value and a medium of exchange.
Ammunition in your wallet is backed by physical ammunition that can be shipped, converted back into USD (aka sold), or exchanged for other calibers. It can also be sent electronically to anyone and used in transactions just like you would use USD. The benefit of course, is that the ammunition is tangible, useful, and valuable whereas the USD is… well useful for now, but certainly not backed by anything tangible anymore.