~ 14.5 million Customers have paid one billion dollars through TIO's
self-service and clerk assisted bill payment network ~
BURNABY, BC, March 18 /CNW/ - 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
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
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
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
The TSX Venture Exchange has not reviewed this news release and does not
accept responsibility for its adequacy and accuracy.
For further information:
For further information: Behshad Hastibakhsh, Media Relations - TIO
Networks, Tel: (604) 298-4636, Ext. 250, Toll Free: (888) 679-3322, Email:
pr@TIOnetworks.com; John Lewis, Business Development - TIO Networks, Tel:
(416) 364-2266, Email: jrlewis@TIOnetworks.com