PaymentOne today announced PayOne FastPay, an industry-first mobile payments program that guarantees disbursements to merchants in as fast as seven days, dramatically reducing the typical 60-90 day waiting period for payouts required by carriers and other mobile payment vendors.
Merchants and publishers have long been frustrated by extended wait periods to receive their cash from mobile payments providers, often as much as 90 days.
In contrast, because of its long-standing carrier relationships and strong financial position, PaymentOne is able to dramatically reduce these wait times for its merchant customers. The PayOne FastPay program is the first in the industry to remove the industry standard 60-90 day wait times and guarantee qualified digital merchants their cash settlements in as fast as seven days.
“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.
“For more than a decade PaymentOne has been a principal market leader in carrier billing, and is recognized as pioneering the business model as the industry knows it today,” said Yankee Group senior analyst Nick Holland. “To eliminate risk, merchants should look to proven vendors like PaymentOne. Accelerating mobile payment settlement cycles adds significant value to clients, and showcases PaymentOne’s continued innovation and market leadership.”