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Bill payment specialist TIO Networks has processed more than $100 million in mobile bill payments, the company said. TIO launched TIO Wallet last year, a cloud-based mobile bill payment service that lets consumers store and pay their bills on their mobile devices. The TIO Wallet now supports more than 300,000 members via its mobile platform, TIO said, and will be rolled out to TIO's kiosk and over-the-counter services in the coming months.
"We are very pleased to have already crossed the $100 million threshold for mobile transactions processed," said Hamed Shahbazi, chairman and CEO of TIO Networks. "As we add more mobile deployments this year, we are excited to accelerate our growth rate."
TIO said its bill processing engine includes the ability to accept bill payments through multiple methods including self-service kiosks, clerk-assisted locations, the Internet and mobile channels. In total, TIO said the channels process more than $1 billion in bill payments per year.
"North Americans are rapidly adopting mobile and becoming more comfortable than ever transacting online," said Steve Barha, executive vice president of TIO's mobile and web division. "In order to keep up with consumer demand, billers need to add convenient and affordable payment solutions. Mobile is an excellent platform for this."
For more stories like this, visit the Bill Payment research center.
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