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Mobile Bill Pay Innovator, TIO Networks, Deemed Leading Tech Company in CanadaRapid Adoption of Mobile Payments and Banking Alternatives Fuels Growth in North America (April 24, 2012)
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/24/12 -- TIO Networks Corp. (TSX VENTURE:TNC) ("TIO") was today named one of Canada's leading technology companies amongst tech giants like BCE, TELUS and Rogers by the Branham Group. The expedited bill payment company also made the prestigious Branham 25, reserved for Canada's highest grossing software companies. This is the second consecutive year TIO has received both honours. The Vancouver-based company accredits much of its growth to the rapid adoption of mobile bill paying and convenient banking alternatives.
"We are proud to receive this honour alongside Canada's largest tech players," said Hamed Shahbazi, TIO's Chairman and CEO. "We have a very talented team dedicated to delivering innovative technology that makes financial transactions like bill paying easier and more affordable for consumers."
A recent report conducted by Pew Research found 65 percent of experts agreed mobile payments will become mainstream by 2020 as consumers grow more comfortable shopping and banking on smartphones. The survey showed more than a third of smartphone owners have used their phones for online banking services like paying bills or checking their balance.
"It's a very exciting time for mobile payment services as technology advances are fueling a new era of innovation as it relates to consumer financial systems," said Shahbazi. "The idea of using your phone as a wallet is becoming more and more accepted by the mainstream population and TIO intends to be a leader in the space."
TIO Networks saw a 32 percent increase in revenue from 2010 to 2011 and has grown to 60 full-time employees. The company recently announced the launch of TIO Wallet, a cloud-based wallet, which is targeted at serving America's underbanked population. For more information visit: www.tionetworks.com. Or join the conversation at www.twitter.com/tiowallet or on http://www.facebook.com/TIOWallet.
About TIO Networks Corp
TIO Networks Corp.
TIO is the leading multi-channel expedited bill payment processor serving the largest Telecommunication, Wireless, Cable and Utility bill issuers in North America. With tens of thousands of location endpoints to its processing network, TIO symbolizes fast, convenient and secure access to expedited payment services. For more information on TIO Networks, please visit www.TIOnetworks.com.
TIO Wallet is the premiere payment wallet for the underserved. It is designed to serve the estimated 60 million Americans with limited access to mainstream financial services. For more information on TIO Wallet, please follow us on Twitter @TIOWallet (www.twitter.com/TIOWallet), visit our Facebook page at www.facebook.com/TIOWallet, or visit http://signup.TIOmobilepay.com for a video preview.
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy.
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