Mobile Payment Industry News: TIO Networks Q2 2010 US$ transaction revenue increases 20%

Wednesday, February 24, 2010

TIO Networks Q2 2010 US$ transaction revenue increases 20%

"30th Consecutive Quarter of Transaction Growth"

VANCOUVER, Feb. 23 /CNW/ - TIO Networks Corp., North America's leading multi-channel expedited bill payment network, (TSX-V: TNC), today provided transaction volumes for the second quarter ended January 2010.

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                                           % Growth                % Growth
                                             in US                   in CDN
                              Transaction   Dollars   Transaction   Dollars
                                Revenue       vs.       Revenue       vs.
      Quarter   Transactions     ($US)      Q2/2010      ($CAN)     Q2/2010
    -------------------------------------------------------------------------
    *Q2/2010    2,031,393    $5,119,733     N/A      $5,383,804     N/A
    -------------------------------------------------------------------------
      Q1/2010     1,827,699    $4,671,282     9.6%     $5,019,192     7.3%
    -------------------------------------------------------------------------
      Q2/2009     1,668,571    $4,265,470      20%     $5,234,402     2.9%
    -------------------------------------------------------------------------
    * The growth trend in month over month transaction volumes increased
        substantially throughout the quarter with January recording our best
        month ever with 771,210 transactions processed accounting for more
        than $2M CAN in transaction revenue.

Business growth with new and existing clients and growing consumer demand for the Company's expedited bill payment products is driving network and revenue growth. The Company continues to aggressively seek new bill payment products, network partners, build on its suite of financial services and add new distribution platforms and endpoints to serve America's increasing reliance on expedited payment products and financial services.

All figures are preliminary and subject to adjustment that will be confirmed when TIO reports its second quarter financial results in March 2010.

TIO Networks Corp.

TIO is the leading multi-channel expedited bill payment processor serving the largest Telecom, Wireless, Cable and Utility bill issuers in North America. With over 20,000 endpoints to its processing network, TIO symbolizes fast, convenient and secure access to expedited payments.

The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy.

For further information: Behshad Hastibakhsh, Media Relations - TIO Networks, Tel: