March 18, 2008Bill Payment Kiosks - TIO Expands ModelTIO and new TIO Express ( at the counter) product activated its first 600 locations this year and is now generating revenue. This new channel is in addition to the web-enabled kiosks and hybrid ATMs it has installed. Congratulations to Hamed and Team...
~ 14.5 million Customers have paid one billion dollars through TIO’s self-service and clerk assisted bill payment network ~ Burnaby, BC, March 18, 2008 – TIO Networks Corp., (TVX-TNC), North America’s leading automated bill payment and financial services network, today announced that it has surpassed the one billion dollar milestone in the total value of payments processed through the TIO Network. Since the spring of 2002, TIO has processed approximately 14.5 million transactions and the network has grown to over 3,600 retail locations primarily in the United States. The vast majority of the bill payments occurred on TIO’s automated kiosk network where customers use self-service web-enabled kiosks and hybrid ATM devices to safely and securely pay bills, purchase prepaid products and conduct other services. TIO has been a niche-leader in establishing the “aggregate self-service bill payment” model where a number of bill payment options in categories such as wireless, utilities and cable are offered on the same terminal. TIO Express, introduced eighteen months ago, permits customers to make in person cash payments at retail locations where store clerks utilize an “over the counter” PC or other web-enabled terminal to process payments through TIO’s real-time Internet-based gateway. To date, this platform has processed over $100 Million in payments and grown to over 1600 active locations. The Company’s newest processing platform, “OEM Express” which leverages TIO’s new transactional API (application programming interface), was designed to integrate large networks into the TIO network to market the Company’s portfolio of products on a host of third party devices including kiosks, PCs and point of sale systems. The Company is pleased to report that it has activated its first 600 OEM Express locations and started generating revenue as of February 2008. “The TIO Network continues to generate month over month increases in transaction volumes with February contributing our best performance to date with over $40 million worth of transactions processed,” stated Hamed Shahbazi, Chairman and CEO of TIO Networks Corp. “With the ongoing deployment of our kiosk and express programs along with our new API processing platform we are well on our way to tripling the number of processing end points to 9000 in 2008.” TIO Networks would like to thank all of its biller and retail merchant partners as well as its employees, vendor partners and other stakeholders for their role in helping TIO achieve this milestone and serve the under banked community. About TIO Networks Corp. TIO Networks Corp. powers the “Walk Up Financial Services” marketplace with thousands of leading edge automated self-service and clerk assisted solutions. TIO owns the largest and most convenient national network of cash accepting ATMs for bill payment and prepaid services for the ’cash preferred’ consumer marketplace in North America. TIO symbolizes fast, convenient, safe and secure access to key financial services. For more information, please visit www.TIOnetworks.com For More Information Contact: Behshad Hastibakhsh, Media Relations – TIO Networks Tel: 604.298.4636, Ext. 250 Toll Free: 888.679.3322 Email: [email protected]
John Lewis, Business Development - TIO Networks Tel: 416-364-2266 Email: [email protected] ### The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy. Posted by staff at March 18, 2008 10:12 AM |