Merchants Get Paid Faster for Direct Carrier Billing with New Program

Sept. 26, 2011

PaymentOne Corporation, a San Jose, Calif.-based mobile payments provider, has introduced a program that guarantees disbursements to merchants in as fast as seven days. The company said the PayOne FastPay program ensures merchants that enable direct carrier billing for mobile purchases will significantly reduce the typical 60-90 day waiting period for payouts required by carriers and other mobile payment vendors. “It’s important to ensure our customers have reliable and rapid cash flow,” said Brad Singer, PaymentOne executive vice president. “PaymentOne tells consumers to ‘put your wallet away and use your phone number to pay’; we tell our merchants you should not have to wait to get paid or worry if your money is safe.” The company said it has been able to leverage “long-standing carrier relationships” and its “strong financial position” to reduce payment time for direct-carrier-billing purchases from as long as three months to as short as one week