Direct carrier biller PaymentOne Corporation today announced PayOne FastPay, a new program that guarantees disbursements to merchants in as fast as seven days. Currently, payments to merchants from direct carrier billing purchases can take 60 to 90 days to process.

"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," said PaymentOne EVP Brad Singer in a statement.

According to PaymentOne, extended wait times for payment on purchases made through a consumer's mobile bill have long been a problem for online merchants and digital publishers. PaymentOne said its long-standing relationhips with carriers and its strong financial position mean the company has been able to reduce that wait time dramatically.

"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," Singer said in the announcement.

The company also announced the creation of Financial Services Group (FSG) within the company to provide the best financial returns and eliminate risk for its merchant customers. PaymentOne said the PayOne FastPay service is the first of many programs the FSG will launch.

Direct carrier billing, where consumers purchase digital goods by placing the charges on their monthly wireless bill, is becoming an increasingly important mobile payment method within the gaming and social media space where younger consumers may not have access to credit or debit accounts.