LAS VEGAS, Sept. 9, 2015 /PRNewswire/ -- TIO Networks Corp., (TSX-V: TNC) ("TIO"), North America's leading cloud-based bill payment processor, announced today the formation of TIO Telecom Solutions (TTS), a new division solely focused on servicing the specific needs of network operators such as wireless, cable and other telecom/TV providers and their authorized retail based dealers. While TIO has already been highly successful in providing private labeled, bill payment solutions in the telecom marketplace, this new division broadens its focus to provide products and services that include offerings that service needs outside the payment space.
"TIO is very excited to announce TTS and this new focus on the telecom industry, bringing new products and services that will meet the growing needs of wireless carriers and their stakeholders," said Hamed Shahbazi, CEO of TIO Networks. "For over twelve years TIO has been a primary supplier of bill payment solutions to North America's telecom providers. TIO is using its deep relationships within the industry to drive the adoption of new products and services that can be helpful to its channel."
TIO's Chief Revenue Officer, Chris Ericksen, will lead TTS. "The U.S. wireless industry is valued at nearly $196 billion, and is a highly competitive and dynamic industry," said Ericksen. "Wireless carriers and authorized dealers are always looking for ways to reduce customer churn and improve ARPU (average revenue per user), but with the growing demand for no contract plans, number portability and unlocked mobile devices, customer retention and loyalty becomes increasingly challenging. This is a perfect environment for the talented staff at TTS to roll out best-in-class payments and software solutions to give our partners a leg up on the competition."
"TTS will actively seek out alliances, strategic investments, and M&A opportunities that we believe will help us grow and our customers win," said Shahbazi. We're excited to broaden our focus to offer new solutions for the telecom industry.
About TIO Telecom Solutions (TTS)
TTS is a division of TIO Networks Corp. dedicated to serving wireless, cable and other network operators and their network of dealers, retailers and agents with leading edge payments and software services. TTS' overarching objective is to help its customers drive enhanced customer retention and revenue growth.
About TIO Networks
TIO is a multi-channel cloud-based bill payment processor serving the largest telecom, wireless, cable, and utility bill issuers in North America. With more than 70,000 endpoints serving up tens of millions of transactions per year, TIO symbolizes fast, convenient and secure bill payment services.
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FORWARD-LOOKING INFORMATION AND DISCLAIMERS
This news release contains certain forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements and information are based on the beliefs, assumptions and expectations of TIO's management on the date of this news release, and TIO does not assume any obligation to update any forward-looking statement or information should those beliefs, assumptions or expectations, or other circumstances change, except as required by securities law.
SOURCE TIO Networks Corp.