- Agreement increases TIO's network to over 7,500 locations -
BURNABY, BC, Nov. 26 /CNW/ - TIO Networks Corp., North America's leading
non bank financial services network (TSX-V: TNC), today announced that it has
signed an agreement with IPP of America, a leading provider of electronic bill
payment services operating the largest network of independent walk-in payment
centers to process TIO bill payments at more than 4,500 IPP of America's (IPP)
locations in 41 States across the United States.
This agreement is the first for TIO's new "OEM Express" distribution
model that allows large networks to plug into TIO's new transactional
'Application Programming Interface' (API) and add a number of TIO's authorized
bill payment products to their agent networks on an approved basis. Customers
who pay bills processed at IPP locations pay a convenience fee that is shared
between TIO, IPP and its agents. This new processing capability will quickly
increase TIO's front-end distribution network with little additional capital
This agreement is the result of substantial R&D expense over the past
year to build a highly scalable and extensible processing platform that allows
TIO to instantly integrate its service capabilities with a myriad of networks,
device types and interfaces such as kiosks, hybrid ATM's, point of sale
devices or even cell phones to unlock the value of our biller relationships,"
said Hamed Shahbazi, CEO of TIO Networks. "We are actively seeking out new
opportunities to integrate our services on additional networks to rapidly
increase our footprint across America."
"We are very excited about our ability to support TIO Networks
marketplace expansion," said Ron Averett, President and CEO of IPP of America.
"By combining IPP's vast distribution network and advanced bill payment
capabilities with TIO's authorized bill payment products we will deliver
tremendous value to the rapidly growing segment of cash-paying consumers".
IPP is one of the nation's largest independent networks of walk-in
payment centers with over 7,000 locations covering almost every state in the
U.S. and operating in thousands of independent neighborhood-based payment
centers. IPP serves a diverse group of retailers including pharmacies,
convenience stores, check cashers, wireless stores, and supermarkets. IPP
processes in excess of $1 Billion in consumer and business payments annually
for our clients.
About TIO Networks Corp.
TIO Networks Corp. is a non-bank financial network that powers the
largest and most convenient national network of self-service and clerk
assisted walk-up bill payment locations for the 'cash preferred' consumer
marketplace in North America. TIO symbolizes safe secure access to key
financial services including bill payment, prepaid, stored value and money
transfer. For more information, please visit www.TIOnetworks.com
About IPP of America Inc.
IPP of America Inc. ("IPP"), a leading provider of electronic payment
services operates the largest national network of independent
neighborhood-based payment centers, providing reliable and safe electronic
payment services to cash paying customers. Through their Payment Settlement
Network, IPP authorized payment centers offer a wide array of alternative
financial services including electronic bill payment, prepaid long distance
and prepaid wireless epins. The company's payment center network currently
extends to over 7,000 locations nationwide. For more information visit us at
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; Brenda Amarant - IPP of
America, Tel : (201) 303-3075, (973) 830-1009, Email: email@example.com