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Kiosk Operator Joins Visa Prepaid Card Loading Network
TIO Networks, a U.S automated bill payment kiosk operator, has joined Visa ReadyLink, Visa USA's prepaid card loading network. The company says consumers will be able to load cash onto Visa reloadable prepaid cards at its financial services kiosks and ATMs by the end of 2007.
The TIO kiosks and ATMs are located at around 2,000 retail outlets owned by ExxonMobil, Circle K and other U.S. convenience store chains. “Virtually all our kiosks are in the U.S., although we do have a small number in Canada,” a spokesperson for Burnaby, British Columbia-based TIO tells ePaynews. “Our market is unbanked consumers, and the U.S. has a large unbanked demographic, unlike Canada.”
Visa prepaid cardholders will only be able to reload cards bearing the Visa ReadyLink logo at the TIO kiosks, the spokesperson says.
TIO’s kiosks enable unbanked consumers to use cash to pay bills, purchase cellphone airtime and purchase money orders.
According to Visa estimates, there are around 80 million financially underserved consumers in the U.S. While many U.S. prepaid cardholders receive funds via payroll direct deposit to their cards, they would also appreciate the option of being able to top up their cards at convenience stores, Visa says.
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