- Utility customers in Texas can now pay their utility bills quickly and
with 24/7 access through TIO's cash accepting self-service terminals
located in tier one convenience retail locations -
BURNABY, BC, April 24 /CNW/ - Texas Power and TIO Networks Corp.,
(TVX-TNC), North America's leading automated bill payment and financial
services network, today announced the launch of a new self-serve automated
bill payment service to allow the utility's customers to pay their bills at
convenience stores across Texas.
Commencing in the summer of 2007, cash preferred Texas Power customers
will be able to make time sensitive, self-serve automated bill payments,
24-hours-a-day, through the TIO Network. Payments are made by inserting cash
directly into cash accepting self-serve automated kiosks and hybrid ATMs.
Transactions are securely completed and all payments are immediately posted to
the customer's account. Customers pay a $3 convenience fee per transaction.
"Texas Power is dedicated to saving customers time, providing great
service and keeping it consumer friendly and convenient and TIO's real-time
payment options fits the bill," said Hamed Shahbazi Chairman & CEO of TIO
"The TIO Network provides our customers with a new convenience based
payment solution and fulfills the needs of our cash paying customers," said
Kimberly Chavez, Process and Training Manager of Texas Power.
Research studies indicate that there are 28 million unbanked people in
the U.S., and 45 million underbanked people lack access to credit. (The Wall
Street Journal, July 7, 2006). Another recent study indicates that the
population underserved by banks is significantly concentrated among
minorities. According to this study, 46 percent of African Americans and 34
percent of Hispanic Americans are unbanked (Journal of Consumer Affairs,
Over the past decade, major urban areas in Texas, such as Dallas,
Houston, Austin and San Antonio, have experienced a substantial population
growth, mainly due to the steady influx of new immigrants from Latin America.
A large proportion - estimates range from 25 percent to 58 percent - of this
community is "unbanked," meaning that as many as half of Latinos have no bank
accounts. More than 6.7 million Hispanics constitute the largest ethnic
minority group (32% of total population) followed by 2.5 million African
Americans (12% of total population) in Texas.
About Texas Power
Texas Power has been the leading provider of choice with the mission to
be a people-oriented business with a stubborn dedication to help Texans save
money on their electric bills. Texas Power has been in Texas' deregulated
electricity market since 2003 and provides electricity to customers in
deregulated areas all across the state. Here at Texas Power we are Real
Savings, Real Service, and Real Simple. For more information, visit
About TIO Networks Corp.
TIO Networks Corp. is North America's largest multi-retailer network of
non bank financial services for the 'cash preferred' consumer marketplace. The
Company operates in more than 2000 locations and provides safe secure access
to bill payment and other 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; Kimberly Chavez - Texas Power,
Phone: (817) 548-0808 ext.141, Fax: (817) 548-9722, Email: