Aug 20 , 2010

TIO sees surge in transaction revenues

By Robin Arnfield

VANCOUVER--TIO Networks, a Vancouver, BC-based bill payment network operator, posted a 65 percent year-on-rise rise in transaction revenues to C$8.64 million in its fourth quarter ending July 31, 2010. In US dollar terms, the year-on-year growth was 80 percent to US$8.3 million.

“Much of our growth is coming from deepening our business relationships with our clients,” Hamed Shahbazi, TIO’s Chairman and CEO, tells Payments Business, "That is to say, growing the work we do for existing customers."

TIO acts as a transaction processor for utility companies and telcos in North America, providing a network of automated kiosks and clerk-operated point-of-sale terminals where consumers can pay bills and top-up their wireless airtime. The company recently launched a service enabling consumers to pay bills via wireless devices, signing California based Pacific Gas & Electric as its first customer for the mobile payments offering.

In June 2010, TIO signed a deal with new Canadian 3.5G wireless carrier Mobilicity to provide cellphone account payment and activation at 250 dealer locations across the Greater Toronto Area (GTA) ( The service is provided via TIO’s PC-based point-of-sale software and processing system, TIO Express. Mobilicity intends to set up operations in Vancouver, Edmonton, Calgary and Ottawa later in 2010.

Last month, TIO was selected as one of three winners of an RFP (request for proposal) to provide a network of payment locations to assist Florida Turnpike in the transition to All Electronic Tolling (AET) in the State of Florida. “This is a really big deal for us,” says Shahbazi. “Like most U.S. states, Florida is short of money and one way it aims to economize is by automating the collection of highway tolls. Instead of allowing people to pay cash to an agent at a tollbooth, Florida plans to make drivers prepay their road usage. TIO will be providing a network of payment locations for toll fees, along with the two other winners of the RFP.”

In Florida, annual toll booth transaction volumes exceed 650 million transactions or about 1.7 million transactions per day.

Shahbazi says TIO’s RFP win in Florida opens the door to similar contracts with highway operators in other U.S. states.



Transaction Revenue ($US)

% Growth in US Dollars vs. Q4/2010

Transaction Revenue ($CAN)

% Growth in CDN Dollars vs. Q4/2010



















Source: TIO Networks, from its preliminary Q4 2010 financial results





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