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TIO Networks Corp., an expedited bill payment network, yesterday reported an 18.5 percent increase in third-quarter transaction revenue.

The Vancouver, British Columbia-based company recorded $9.5 million in transaction revenues for the three-month period ended April 30 compared with $8.0 million in transaction revenue for the same three-month period last year.

In 2011's third-quarter, TIO reported 3.9 million transactions compared with 3.2 million transactions for the same three-month period in 2010, company officials said.

TIO Networks is a leading multi-channel bill payment processor, serving telecom, wireless, cable and utility bill issuers in North America. The company has more than 58,000 bill-payment endpoints, including bill-payment kiosks.

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