BURNABY, British Columbia — TIO Networks Corp., a bill payment and financial services network, has announced that it has surpassed the one billion dollar milestone in the total value of payments processed through the TIO Network. Since the spring of 2002, TIO has processed approximately 14.5 million transactions and the network has grown to more than 3,600 retail locations primarily in the United States.
The vast majority of the bill payments occurred on TIO's automated kiosk network where customers use self-service Web-enabled kiosks and hybrid ATM devices to safely and securely pay bills, purchase prepaid products and conduct other services. TIO has a model where a number of bill payment options in categories such as wireless, utilities and cable are offered on the same terminal.
TIO also has announced that it has activated its first 600 OEM Express locations and started generating revenue as of February 2008. OEM Express, which leverages TIO's new transactional application programming interface, was designed to integrate 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.
