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TIO, Nexxo expand partnership, bring bill payment to unbanked, underbanked Hispanics
September 16, 2009
Payments processor TIO Networks Corp. and self-service bill-payment provider Nexxo Financial Corp. have announced they will expand an existing partnership and launch TIO's expedited bill-payment processing on 100 of Nexxo's financial-services kiosks. Nexxo caters primarily to the Hispanic market, with deployments in Latin America and the Western United States, and calls its financial kiosks "Cajeros," which means "cashier" in English.
David Alvarez, Nexxo's chief executive, says the addition of bill-payment will create an added convenience for Nexxo's customers, who are largely unbanked or underbanked and routinely use the kiosks' money-transfer functionality:
It is an exciting development in the evolution of Nexxo to be able to offer more services on our Cajeros. Customers can now benefit even more from being a Nexxo Financial customer with the convenience and ease of paying their bills in addition to conducting money wire transactions.
In December 2008, TIO deployed Nexxo's money-transfer services on its existing bill-payment kiosks in retail outlets in several Southwestern cities.
Transaction ProcessingTransactional KiosksUnbankedNorth AmericaLatin AmericaRetailTIO Networks Corp.
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