- Growth in OEM and TIO Express programs propels growth -
BURNABY, BC, June 20 /CNW/ - TIO Networks Corp., (TSX.V-TNC), North
America's leading automated bill payment and financial services network
announced that it has surpassed its 10,000th location activation milestone.
The Company is pleased to report that it has recently activated its
6000th OEM Express location and has commenced to process payments. This rapid
growth has more than tripled the size of TIO's bill payment network to 10,000
locations over the past 6 months. The growth was primarily achieved through
the implementation of TIO's new transactional API (application programming
interface). The API integrates 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.
Additionally, the Company has successfully launched its money transfer
program with NEXXO Financial in four US markets (Phoenix, Tucson, Houston and
San Antonio) on over 80 kiosks. Money transfer is an important component of
TIO's financial services growth strategy based on bill payment, money
transfer, prepaid services and the myTIO(TM) consumer strategy.
"The new bill payment and money transfer locations are contributing to
greater transaction volumes and revenue growth with the month of May being our
best month of transactional performance ever," stated Hamed Shahbazi, Chairman
and CEO of TIO Networks Corp. "With over 10,000 active locations six months
ahead of forecast we are well on our way to achieving greater growth and will
continue to aggressively expand our network to unlock the value of our biller
and service relationships."
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