News
TIO offers money-transfer services at Circle K, other retail outlets
October 30, 2007
BURNABY, British Columbia -TIO Networks Corp.and NEXXO Financial Corp. have formed an alliance to provide NEXXO's kiosk-based money-remittance services at Circle K and other participating convenience-store chains in the TIO network.
"This partnership with NEXXO completes an important component of TIO's financial-services growth strategy, based on money transfer, bill-payment, prepaid cards and the myTIO consumer strategy available through TIO's rapidly growing network of self serve locations,"said Hamed Shahbazi, chairman and chief executive of TIO Networks. "We anticipate this cornerstone service will accelerate the overall transaction level of the network and drive new product and service offerings as more corporations and consumers become aware of TIO's financial services network".
According to a news release, by early spring 2008, cash-preferred customers will be able to send money to their families, relatives and friends worldwide through TIO's self-serve automated financial-services kiosks and hybrid ATMs. Money transfer recipients can receive funds over NEXXO's network of more than 20,000 locations, located primarily in Latin America. In the future, NEXXO also expects to offer its services in China, India, the Philippines and Pakistan.
NEXXO operates more than 100 of its own NEXXO financial kiosks or "Cajeros," which are located in California. As part its agreement with TIO, TIO Networks billpay solution will now be offered on all of NEXXO's kiosks by spring of 2008, or shortly after the launch of NEXXO's services on TIO's network.
"At NEXXO, we are pleased and excited to partner with outstanding companies such as TIO and Circle K to offer world class self-serve remittance to more consumers throughout the United States." said David Alvarez, chief exeuctive of NEXXO Financial Corp.
myTIO membership
The myTIO membership program, announced earlier this month, allows TIO customers to store and use account information associated with billpay and other financial services directly from a TIO billpay kiosk or hybrid ATM. Enrollment is free service for billpay customers.
When users authenticate themselves, myTIO creates personalized accounts for users to consolidate their bill-payment information, alleviating the need to remember individual account numbers. Members only need their phones and passwords to securely access their accounts and conduct transactions.
ATM ManagementTrends / StatisticsTransaction ProcessingRetail / Off-PremisesKiosks/Self-ServiceUnderbanked / UnbankedNorth AmericaLatin AmericaBank / Credit UnionTIO Networks Corp.
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