 April 12, 2006 - Fremont, CA - Tranax Technologies, Inc.,(www.tranax.com) the leading innovator of self-service technology, and TIO Networks Corp., formerly Info Touch Technologies Corp., owner of North America’s leading automated bill payment and financial services network, (TSX-V: TNC) today announced a strategic partnership to pursue the self-service market. The first phase of the partnership is to launch a joint hybrid ATM initiative. With this agreement, TIO financial services will be available on the new Tranax Mini-Bank 4000 series ATMs.
As part of the joint initiative, Tranax has developed a new Hybrid kiosk which enables the Tranax Mini-Bank 4000 series ATM to offer TIO Networks’ suite of financial services. TIO’s services include bill payment, stored value card dispensing and reloading, and prepaid services. TIO networks will process all transactions for financial applications, except for the traditional ATM services. TIO’s capabilities allow real-time intelligent links to a number of the largest billers in the U.S. including telecommunications companies and utilities.
“Tranax and TIO Networks have taken our strengths in secure financial transactions to create a new self-service platform that will allow customers to get cash, pay bills and buy pre-paid cards all at one place,” commented Dr. Hansup Kwon , President and CEO of Tranax Technologies, Inc. “We are providing retailers and other businesses with the ability to serve their customers with a broad array of financial transactions more quickly and conveniently than ever before.”
“The Mini-Bank 4000 series represents the best-in-class convergence of ATM and self-service functionality, bundled in a cost effective hybrid ATM solution. Combining our processing capability with a hybrid ATM is a cost effective way to expand our presence in this growing market,” said Hamed Shahbazi, Chairman and CEO of TIO Networks Corp.”
The Tranax hybrid ATMs with TIO services will be available to distributors and retailers this spring.
About TIO Networks Corp.
TIO Networks Corp, a strategic investment of Hewlett Packard, is building the largest and most convenient national multi-retailer network of financial services kiosks for the ”cash preferred” consumer marketplace in North America. The company leverages its core competencies in self-service bill payment processing, financial services aggregation and automation to create financial viability for its network and its location partners. With more than 750 locations and 6 top tier corporate owned convenience store chains participating, the TIO brand symbolizes safe secure access to key financial services. TIO Networks’ clients include: Circle K, ExxonMobil, Cingular Wireless, Speedway SuperAmerica, Cricket Communications, COX Communications, Memphis Light Gas and Water (MLGW) and Qwest Communications. For more information, please visit www.tionetworks.com
FOR MORE INFORMATION CONTACT:
Jeffrey Lee , Director of Product Management
Tranax Technologies, Inc.
Phone: (510)770-2227, ext. 213
email: jlee@tranax.com
Carolyn Wellsfry Cheng , Marketing Communications
Tranax Technologies, Inc.
Phone: (510) 770-2227, ext. 408
Email: ccheng@tranax.com
Behshad Hastibakhsh, Media Relations – TIO Networks
Tel: 604.298.4636, Ext. 250
Toll Free: 888.679.3322
Email: pr@tionetworks.com
John Lewis, Business Development - TIO Networks
Tel: 416-364-2266
Toll Free: 877-600-6001
Email: jrlewis@tionetworks.com
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About Tranax Technologies
Tranax leads the self-service industry in the design, development, manufacture, and sale of self-service technology to the retail, banking, hospitality, entertainment, and gaming industries. Founded in 1986 by Dr. Hansup Kwon, the company has now sold over 100,000 ATMs installed across North America.
Since the beginning, Tranax has been known for its innovative, high-value products, but what really differentiates the company from its larger competitors is its strong focus on product quality and reliability, customer service and support, and the entrepreneurial and visionary founder.
The company was selected by Frost and Sullivan to receive the Growth Strategy Leadership Award for 2006 “for its outstanding ability to make rapid strides into the highly competitive ATM market in North America.” For more information please visit www.tranax.com
Contact Information:
Marketing Communications
Department
Tranax Technologies
510-770-2227 x410
marketing@tranax.com
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