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Technology/Services

NEXXO Forges Self-Serve Money Transfer Service Deal

Will offer services via TIO Networks bill payment kiosks
SAN BRUNO, Calif. -- NEXXO Financial Corp., a provider of self-serve remittance for the Hispanic market, has announced an extended partnership with TIO Networks Corp., offering its patent-pending technology to TIO's network of bill payment kiosks in Circle K and ExxonMobil's On the Run and Tigermarket convenience store chains.

The NEXXO solution is currently available in several cities across California and Texas, and via TIO, its reach will include additional 427 locations in Texas as well as in the state of Arizona. The expansion follows successful market tests of the [image-nocss] remittance program in Phoenix.

"There remains a strong need in the Hispanic community for sending funds to loved ones back home in a safe, easy and cost-effective manner," said David Alvarez, CEO of San Bruno, Calif.-based NEXXO. "Our continued relationship with TIO will allow more individuals in these communities who want to transfer money the control and access 24 hours a day, seven days a week."

This is the latest in expansion for NEXXO, which offers its service directly to customers through its own NEXXO kiosks as well as via partnerships in locations that meet the needs of the Hispanic community.

"The TIO Networks self-serve money transfer program powered by NEXXO is a strong product category for the consumer demographics of our retail partners," said Hamed Shahbazi, chairman and CEO of TIO Networks. "Given recent economic conditions, now more than ever, it is important for consumers to have a lower-priced competent alternative as we have done with our partnership with NEXXO."

To conduct a transaction, customers sign up for free by calling the NEXXO toll-free number (800-789-8233) and benefit from the 'no-fee' offer on the first transaction for money remittances. Customers who use money transfer services through self-service kiosks receive a five-minute long-distance call for free so that they can call the recipient and let them know the funds are safely on their way.

Money transfer recipients abroad can receive funds via NEXXO's network of more than 21,000 bank branches and pickup centers in Mexico and Latin America. The self-serve money remittance service in the TIO network provides a rate of $9.95 for a transfer up to $1,000.

Meanwhile, Burnaby, B.C.-based 2008--TIO Networks has been was selected by Pacific Gas & Electric Company (PG&E), California's largest investor-owned utility to implement and manage its new self-service bill payment kiosk program.

Pursuant to the agreement, PG&E has purchased 11 self-service payment center kiosk systems powered by TIO's industry leading self-service software and processing services for local offices throughout northern and central California. The agreement also authorizes TIO to deploy the PG&E bill payment application to up to 200 self-service kiosks within the PG&E service area.

The new expedited bill payment program permits the utility's six million customers to navigate through the bill pay application, in either English or Spanish, securely view their account balance, complete financial transactions, and print or e-mail their receipts.

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