BURNABY, B.C. — TIO Networks Corp., an automated bill payment and financial services network, announced that it has surpassed its 10,000th location activation milestone, according to a news release.
The company is pleased to report that it has recently activated its 6,000th OEM Express location and has commenced to process payments. This growth has more than tripled the size of TIO's bill payment network to 10,000 locations over the past six months. The growth was primarily achieved through implementation of TIO's new transactional application programming interface (API). 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 U.S. markets, including Phoenix and Tucson, Ariz., and Houston and San Antonio, Texas, on more than 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 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," said Hamed Shahbazi, chairman and chief executive officer 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."
