PaymentOne has announced decreased disbursement wait times for merchants who accept carrier billing transactions from mobile customers. Whereas the prior industry standard had merchants waiting 60 to 90 days before receiving funding for billed transactions, the settlement period has been reduced to as few as seven days with PayOne FastPay. The news is reflective of increased adoption by merchants and consumers of carrier billing schemes, and hints at the potential for more robust additional processes for carrier billing mobile payments in the future.
From the announcement:
“In addition to offering the broadest global reach and best merchant payout rates in the industry, it’s also important to ensure our customers have reliable and rapid cash flow,” said PaymentOne executive vice president Brad Singer. “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.”
In an effort to provide the best financial returns and eliminate risk for its customers, PaymentOne has established the Financial Services Group (FSG) within the company. PayOne FastPay is just the first in a planned set of innovative financial optimization and risk elimination programs the FSG will unveil for PaymentOne’s global merchants.