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TIO Networks Named to PROFIT Magazine's list of Fastest-Growing Companies in CanadaIncreased Demand for Convenient Bill Paying Earns TIO a Placing for Second Consecutive Year (June 06, 2012)
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/06/12 -- TIO Networks Corp. (TSX VENTURE:TNC) ("TIO"), North America's leading expedited bill payment company, yesterday was named one of Canada's Fastest-Growing Companies by PROFIT Magazine for the second consecutive year, and the fifth time overall. Ranking by five-year revenue growth, the PROFIT 200 profiles the country's most successful growth companies. TIO attributes much of its growth to fulfilling the increasing consumer demand for convenient bill payment solutions.
"We're living in a mobile world where the demand for processing bills and almost everything else in real time is ever increasing," said Hamed Shahbazi, Chairman and CEO of TIO Networks. "TIO is always evolving its technology to stay ahead of consumer demand. Progressive thinking is the catalyst of growth for our company."
TIO offers expedited bill payment solutions primarily to America's underbanked population, who don't have access to convenient banking services and often face costly interest and reconnection fees when bills aren't paid on time. TIO's customers have access to more than 55,000 bill pay locations across the United States, which provide bill pay access to more than 10,000 billers, including telecom, wireless, cable, utility and major billing companies. TIO achieved a 258 % increase in growth from 2006 to 2011 and is honoured to once again earn a spot on the PROFIT 200.
"The PROFIT 200 companies are an inspiration to Canadian entrepreneurship and would-be entrepreneurs," said Ian Portsmouth, Editor-In-Chief of PROFIT Magazine. "PROFIT is proud to celebrate the success of these businesspeople, who, despite a challenging economy, have achieved outstanding success in a wide variety of fields."
TIO's newest venture into the mobile wallet world will make it possible for America's 60 million underbanked consumers to pay almost any bill from their iOS and Android smartphone using cash, prepaid card, credit card, or bank account. TIO's cloud based wallet technology is expected to launch later this year, paving a way for the underbanked to access personal financial management services such as credit building, micro finance and money remittance. To learn more visit: www.tionetworks.com or join the conversation: www.twitter.com/@tiowallet or facebook.com/tiowallet.
About TIO Networks Corp
TIO is a cloud-based bill payment processor serving the largest telecom, wireless, cable and utility bill issuers in North America. With more than 60,000 endpoints to its processing network, TIO symbolizes fast, convenient and secure bill paying. For more information visit: www.TIOnetworks.com Join the conversation on www.twitter.com/tiobillpay or like us on www.facebook.com/TIOWallet.
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy.
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