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TIO Networks reports fiscal 4Q transaction revenues rise 80 percent
September 2, 2010
Multichannel bill-payment processor TIO Networks recently reported fiscal 4Q transaction revenue of $8.3 million, a rise of 80 percent from fiscal 4Q in 2009. Vancouver, British Columbia-based TIO processed nearly 3.5 million transactions in its fiscal quarter ending July 31, nearly double the 1.8 million transactions in the same period a year ago. The company said it has experienced 32 consecutive quarters of transaction growth.
During the recent quarter TIO announced three new growth initiatives: a mobile bill-payment platform and subsequently announced California-based Pacific Gas & Electric as its first customer; expansion into the Canadian marketplace with real-time bill-payment services for Mobilicity Wireless customers; won an RFP with Florida Turnpike Enterprises to provide payment services for Florida Toll-road drivers.
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