SAN BRUNO, Calif. — NEXXO Financial Corp., a company that provides self-service remittance services to the Hispanic demographic, has announced an extended partnership with TIO Networks Corp., a multiretailer network of financial services kiosks for the cash-preferred consumer marketplace in North America. The partnership will enable NEXXO to offer its patent-pending self-service remittance technology on TIO's network of bill-payment kiosks at Circle K and other participating retail stores.
Currently, the NEXXO solution is available in several U.S. cities across California and Texas. The partnership will bring remittance services to an additional 427 locations in Texas as well as in Arizona. The expansion is the result of several successful market tests of the remittance program in Phoenix.
"There remains a strong need in the Hispanic community for sending funds to loved ones back home in a safe, easy and cost-effective manner," said David Alvarez, NEXXO's chief executive. "Our continued relationship with TIO will allow more individuals in these communities who want to transfer money the control and access 24 hours a day, seven days a week."
This is the latest in expansion for NEXXO, which offers its service directly to consumers through its own NEXXO kiosks as well as via partnerships in locations that meet the needs of the Hispanic community.
"The TIO Networks self-serve money-transfer program powered by NEXXO is a strong product category for the consumer demographics of our retail partners," said Hamed Shahbazi, chairman and chief executive of TIO Networks. "Given recent economic conditions, now more than ever, it is important for consumers to have a lower-priced competent alternative as we have done with our partnership with NEXXO."
