News

Info Touch offers alternative payment options to unbanked customers

July 22, 2004

WEST CHESTER, Pa.- MEIbill acceptors have been integrated into Info Touch Technologies Corp's (IFT: TSXV) software platform, Surfnet Premiere, for the delivery of financial services applications, according to a company news release.  The services will be deployed through secure kiosk networks at Circle K, Mac's Couche-Tard, Exxon Mobil, and other prime retail locations. 

Info Touch's portfolio financial services offerings includes bill payment, money order/transfer, PIN dispensing (pre-paid graphics, ring tones, mobile content, long distance, etc.), and additional e-services such as Wi-Fi access, lottery, maps and more.

MEI's bill acceptor technology enables customers to use cash for online bill payment and other financial service transactions. Info Touch's kiosks use the company's Surfnet technology, which provides touch screens that can be customized to meet the needs of any application.    Info Touch selected MEI's cash acceptor for its high bill capacity - between 600 and 1200 bills - its lockable, removable cassette, and its remote diagnostic ability.  MEI's bill acceptor technology allows users to insert bills facing up, down, or either direction - even bills that are torn, wrinkled, and dirty.  In addition, MEI's bill acceptors feature MARS® FLASHPORT™ re-programmable flash technology, which enables operators to quickly and cost-effectively update software files to recognize new currency designs.

"Approximately 30% of North American customers are `unbanked' or significantly 'underbanked', but still need the same services and convenience that `banked' customers have," said Hamed Shahbazi, chairman and chief executive officer of Info Touch.  "Thanks to MEI's bill acceptors, our clients can offer their `underbanked' customers self-serve, cash-based financial services, expanding their customer bases and revenue streams."

[Editor's note: Info Touch Technologies became Tio Networks in April 2006.]