BURNABY, British Columbia - Circle K Stores Inc. and Info Touch Technologies Corp. jointly announced in a news release a new multi-year agreement to continue to grow the Zaplink program not only in the number of locations, but also in terms of the services provided.
Zaplink is Circle K's branded self-service kiosk that gives c-store patrons the ability to pay wireless, cable, utility and other bills in cash, purchase prepaid products and services, transfer money, browse the Internet and perform a variety of other functions.
Circle K and Info Touch have developed a recurring revenue model, driven primarily by customer-funded transaction fees mainly from bill-pay applications. In July 2005, Circle K customers engaged in more than 75,000 Zaplink transactions. Info Touch is working to add new billers, pre-paid products and other financial services to serve more of Circle K's customers' needs.
"Zaplink is a key element in our strategy to deliver self-serve financial services to the more than 2 million customers who visit us each day in a fast, convenient, and hassle-free manner", said Dan Stiel, manager of financial services of Circle K Stores. "Info Touch has been a partner in this development for more than four years and is well-qualified to help us deliver our vision into the future."
"We are very pleased to have Circle K as marquee partner in our TIO Network", said Hamed Shahbazi, chairman and chief executive officer of Info Touch Technologies. "Circle K has been an excellent partner in the development, refinement and implementation of Zaplink."
There are currently approximately 194 Zaplink kiosks deployed in five states. Both companies' objective is to not only grow the number of locations but also the selection of billers and other financial services available.
[Editor's note: Info Touch Technologies became Tio Networks in April 2006.]