BURNABY, B.C. — TIO Networks Corp. announced an agreement with Dollar General to test hybrid ATMs at 52 locations in Tennessee by year-end. TIO's hybrid ATM combines the functionality of a traditional, cash-dispensing ATM with a cash-accepting financial services kiosk.
The new Hybrid platform enables customers to make ATM cash withdrawals using debit or credit cards, pay bills, purchase prepaid wireless, and a host of other functions.
Patrons can easily pay their bills by leveraging TIO's real-time intelligent links with a number of the largest telecommunications, cable and utilities companies in the United States. Customers can feed their cash directly into the hybrid's note acceptor, and complete financial transactions by either printing or e-mailing their receipts to email addresses of their choice.
The hybrid machines used for this deployment are the X4000 series ATM and cash-accepting sidecar developed by Tranax Technologies Inc. of Fremont, Calif. TIO networks will process all transactions associated with the hybrid, except for the traditional cash-withdrawal-related services. TIO and Dollar General will share in the service fees generated from both the ATM and financial-service transactions.
These hybrids leverage the unique "reverse vault cash" methodology jointly pioneered and patented (under pending status) by TIO and Palm Desert National Bank, which provides all vault cash, reverse vault cash, back-office settlement and sponsorship services.
