21 January 2018
visit www.ebaday.com

First Data integrates Tio Networks bill payment processing services

24 February 2010  |  2895 views  |  0 Source: First Data

First Data Corporation, a global leader in electronic commerce and payment processing, today announced an agreement to integrate bill payment processing services from TIO Networks (TSX-V: TNC), a leading North American multi-channel bill payment processor, with First Data's Money Network electronic payroll distribution service.

First Data's Money Network electronic payroll distribution service enables employers to reduce payroll costs while providing a secure, flexible spending card solution to their underbanked employees, which cardholders can use to make purchases at millions of debit acceptance locations.

According to a December 2009 survey by the Federal Deposit Insurance Corp., 9 million households are unbanked and another 17.9 million households are underbanked.

Checks, cash and money orders are the primary bill payment methods used by unbanked and underbanked consumers, according to Aite Group, which estimates that 32 percent of unbanked and underbanked bill payments are made by check, 30 percent by cash and 21 percent by money orders.

Now, as a result of the relationship with TIO, Money Network cardholders will be able to pay bills online, by phone, and in some cases at self-service kiosks, thereby reducing the time and cost of paying bills. TIO's bill payment processing solution is designed to provide cardholders a secure and convenient bill payment experience.


Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.niceactimize.comvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
13017 views comments | 33 tweets | 38 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
8293 views comments | 12 tweets | 12 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
8194 views comments | 14 tweets | 14 linkedin
hands typing furiouslyFintech Adoption is About People, Not Tech
7221 views 1 | 7 tweets | 2 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job