BURNABY, B.C. -- Exxon Mobil Corp., along with TIO Networks Corp. and NetSpend Corp., has launched the TIO Prepaid MasterCard at participating Exxon and Mobil convenience store locations across the United States. The card is issued by MetaBank.
This spring, consumers in participating U.S. locations can purchase a TIO Prepaid MasterCard and use TIO's automated self-serve kiosks to instantly activate the card and load it with funds. The cards will provide consumers the ability to make purchases or gain access to cash anywhere Debit MasterCard cards are [image-nocss] accepted worldwide.
From the beginning of our relationship, ExxonMobil's management team has exhibited vision and openness to new products and services, and we are excited to partner with NetSpend to enhance our relationship with ExxonMobil by offering the TIO Prepaid MasterCard to their customers, said Hamed Shahbazi, chairman and CEO of TIO Networks. This card is an effective alternative for millions of people in the U.S. who are self-banked.
The TIO Prepaid MasterCard features include free Direct Depositthe automatic deposit of paychecks on the cardand free Anytime Alerts, balance and transaction details sent to a cardholder's email or cell phone. TIO will support cardholders with a dedicated online portal accessible through www.thetiocard.com.
Cardholders can load funds onto their TIO Prepaid MasterCard at NetSpend authorized reload locations across the country and maintain up to a $5,000 balance. Funds are deposited at MetaBank and are covered by passthrough FDIC insurance.
Austin, Texas-based NetSpend is a provider of innovative, accessible prepaid cards for self-banked consumers. Its proprietary processing platform allows it to support prepaid card programs end to end from customer acquisition and card fulfillment to customer service and risk management. The NetSpend Prepaid Card Network includes major consumer brands and major companies serving the unbanked and underbanked markets, and its strategic relationships include card issuers, EFT networks and payment card associations.
MetaBank is a federally chartered savings bank headquartered in Storm Lake, Iowa. Meta Financial Group, Inc. is the bank holding company for MetaBank, MetaBank West Central, Meta Payment Systems and Meta Trust Co. The Meta Payment Systems division of MetaBank, based in Sioux Falls, S.D., serves banks, processors and third-party marketers by providing prepaid cards, credit cards, ACH origination, merchant acquiring, ATM
sponsorship and money transfer.
In other TIO Networks news, the company has partnered with Texas Power to launch of a new self-serve automated bill payment service to allow the electric utility's customers to pay their bills at c-stores across Texas.
Commencing in summer 2007, cash-preferred Texas Power customers will be able to make time-sensitive, self-serve automated bill payments 24 hours a day through the TIO Network. Payments are made by inserting cash directly into cash-accepting self-serve automated kiosks and hybrid ATMs. Transactions are securely completed and all payments are immediately posted to the customer's account. Customers pay a $3 convenience fee per transaction.
Burnaby, B.C.-based TIO Networks Corp. is a multi-retailer network of nonbank financial services for the cash-preferred consumer marketplace. It operates in more than 2,000 locations including convenience stores and provides safe, secure access to bill payment and other key financial services.
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