BURNABY, B.C. — Info Touch Technologies Corp., owners of the TIO non-bank financial services network, has changed its name to TIO Networks Corp.
The change reflects the strength of the TIO financial services kiosks known for convenient and secure access to bill payment and other financial services, such as prepaid products, PIN dispensing, money order and money transfer. The services are available at more than 750 c-stores, billers and financial-service providers.
"Over the past couple of years, the company has made the transition from 'kiosk solutions' to 'high-value bill payment and financial services processing,' with valuable real-time connectivity to a host of large scale billers and service providers," said Hamed Shahbazi, chairman and chief executive officer of TIO Networks.
"TIO Networks will continue to leverage and monetize its deep self-service automated competencies, particularly the ability to accept cash and other payment forms in an unattended environment."
Over the past month the TIO Network has processed approximately 300,000 bill-payment transactions. With one transaction generated every nine seconds, recurring revenues generated by bill-payment processing services provide the vast majority of the company's revenue.
Clients include Circle K, ExxonMobil, Cingular Wireless, Speedway SuperAmerica, Cricket Communications, COX Communications, Memphis Light Gas and Water and Qwest Communications.
