Info Touch Press Releases
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September 20, 2005
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September 20, 2005
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September, 2005
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September 16, 2005
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September 15, 2005
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September 15, 2005
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September 14, 2005
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August 30, 2005
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August 30, 2005
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August 30, 2005
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August 30, 2005
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August 29, 2005
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August 29, 2005
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August 4, 2005
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July 21, 2005
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July 21, 2005
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July 21, 2005
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July 20, 2005
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July 20, 2005
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July 19, 2005
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July 14, 2005
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July 14, 2005
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July 14, 2005
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July 13, 2005
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July 12, 2005
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June 2005
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June 1, 2005
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May 16, 2005
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May 10, 2005
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May 10, 2005
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May 10, 2005
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May 4, 2005
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May 3, 2005
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May 2, 2005
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March / April, 2005
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April 27, 2005
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April 26, 2005
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March 29, 2005
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March 28, 2005
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March 3, 2005
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March 3, 2005
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March 3, 2005
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March 2, 2005
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March 2, 2005
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February 25, 2005
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February 24, 2005
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February, 2005
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January 27, 2005
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January 27, 2005
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January 25, 2005
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January 25, 2005
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January 24, 2005
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January 19, 2005
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January 18, 2005
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January 18, 2005
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December 2, 2004
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December 2, 2004
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December 2, 2004
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December 2, 2004
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November 8, 2004
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November 3, 2004
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October 5, 2004
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September 27, 2004
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August 25, 2004
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August 25, 2004
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August 19, 2004
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August 15, 2004
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July 23, 2004
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July 1, 2004
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June 1, 2004
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June 1, 2004
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April 7, 2004
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April 7, 2004
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April 6, 2004
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April 5, 2004
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April 1, 2004
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April 1, 2004
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March 31, 2004
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March 25, 2004
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March 24, 2004
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March 23, 2004
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March 22, 2004
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January 21, 2004
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December 31, 2003
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December 22, 2003
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December 8, 2003
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November 13, 2003
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October 29, 2003
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October 28, 2003
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October 28, 2003
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October 23, 2003
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October 22, 2003
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October 22, 2003
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October 22, 2003
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October 21, 2003
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October 20, 2003
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October 17, 2003
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October 16, 2003
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October 15, 2003
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October 14, 2003
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October 8, 2003
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October 1, 2003
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August 21, 2003
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August 15, 2003
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August 14, 2003
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July 29, 2003
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July 23, 2003
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July 17, 2003
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July 10, 2003
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June 26, 2003
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June 20, 2003
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June 18, 2003
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June 12, 2003
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June 11, 2003
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June 1, 2003
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May 23, 2003
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May 22, 2003
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May 21, 2003
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April 7, 2003
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April 3, 2003
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April 2, 2003
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April 1, 2003
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March 31, 2003
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March 28, 2003
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March 20, 2003
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February 28, 2003
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February 27, 2003
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January 29, 2003
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January 22, 2003
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December 19, 2002
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December 18, 2002
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November 25, 2002
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November / December, 2002
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November 15, 2002
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November 6, 2002
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October 18, 2002
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October 17, 2002
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October 17, 2002
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October 15, 2002
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October 15, 2002
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October 1, 2002
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September 23, 2002
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September 19, 2002
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September 17, 2002
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September 17, 2002
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September 16, 2002
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September 16, 2002
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September 10, 2002
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September 4, 2002
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August 26, 2002
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August 23, 2002
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August 22, 2002
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August 21, 2002
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August 20, 2002
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August 20, 2002
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August 19, 2002
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August 19, 2002
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August 12, 2002
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August 9, 2002
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August 9, 2002
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July 19, 2002
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July 3, 2002
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June 18, 2002
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June 11, 2002
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May 27, 2002
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May 24, 2002
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May 24, 2002
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May 9, 2002
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May 1, 2002
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April 18, 2002
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April, 2002
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April 10, 2002
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April 10, 2002
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April 9, 2002
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April 9, 2002
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April 8, 2002
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April 5, 2002
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April 4, 2002
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March 25, 2002
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February 28, 2002
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February 18, 2002
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February 9, 2002
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February 7, 2002
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February 6, 2002
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January 31, 2002
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January 25, 2002
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January 23, 2002
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January 23, 2002
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January 22, 2002
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January 11, 2002
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January 7, 2002
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January 3, 2002
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December 26, 2001
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December 25, 2001
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December 15, 2001
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December 12, 2001
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November 30, 2001
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November 28, 2001
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November 19, 2001
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November 16, 2001
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October 31, 2001
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October 19, 2001
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October 17, 2001
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October 17, 2001
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October 17, 2001
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October 17, 2001
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October 17, 2001
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October 3, 2001
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September 28, 2001
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September 27, 2001
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September 21, 2001
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September 20, 2001
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September 17, 2001
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September 17, 2001
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September 17, 2001
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September 7, 2001
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September 5, 2001
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September 5, 2001
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September 5, 2001
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August 31, 2001
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August 14, 2001
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August 10, 2001
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July 30, 2001
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July 30, 2001
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July 23, 2001
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July 18, 2001
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July 18, 2001
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July 11, 2001
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July 11, 2001
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July 9, 2001
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June 27, 2001
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June 27, 2001
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June 26, 2001
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June 25, 2001
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June 25, 2001
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June 22, 2001
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June 20, 2001
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May/June 2001
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March 28, 2001
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March 13, 2001
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December 25, 2000
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November 1, 2000
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October 31, 2000
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October 10, 2000
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July 15, 2000
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July 7, 2000
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April 4, 2000
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February 15, 2000
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January 25, 2000
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January 18, 2000
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Serving the Unbanked
Kiosks.org • August 4 2005 - By Behshad Hastibakhsh
Across the United States, self-serve technology is reshaping the financial services landscape for more than 30 million unbanked households that until now have been mainly dependent on the alternative banking system for cashing checks and paying bills in cash or with money orders. With the growing consumer acceptance for interactive self-serve technology, leading convenience stores and retailers recognize new opportunity areas in empowering their customers with convenient, secure and reliable access to self-serve automated financial services.
Thanks to a new innovative program, Info Touch Technologies Corp (www.infotouch.net ), a strategic investment of Hewlett Packard, is merging the best in kiosk and ATM technology to facilitate offer bill pay and financial services to the ‘cash preferred’. Bill payment and financial services are the ‘hottest kiosk application’ and will be available on standalone TIO terminals and multifunctional kiosks powered by TIO.
Meet TIO
TIO is the umbrella brand for the network of bill pay and financial services kiosks that have been deployed in major convenience stores such as Circle K, ExxonMobil, Speedway SuperAmerica, Kum&Go, NOCO, Maverik, and Mac’s / CoucheTard. These ATM-like electronic terminals enable the ‘cash preferred’ to pay their wireless, utility, cable and other bills, and/or purchase pre-paid products and services (such as long distance and directory assistance).
Hamed Shahbazi, Info Touch’s CEO, elaborates his vision: “We have built the largest and most convenient multi-retailer national network of self-service financial services for the ‘cash preferred’ demographic. TIO currently allows ‘cash preferred’ consumers to access bill pay and financial services in more than 22 states, Puerto Rico and British Columbia. The network is growing quickly in new and existing markets”.
Consumer Focused
TIO, which means ‘uncle’ in Spanish, is a name trusted even by those who are uncomfortable with using banks, credit unions and other traditional financial institutions.
The reason is simple: TIO provides secure access to financial services while respecting the dignity, culture and ethnic background of its users.
This is particularly important to the estimated 20 million undocumented immigrants who seek better job opportunities in the United States and send money to their families back home. These undocumented immigrants (mainly from Mexico and other Latin American countries) constitute the majority of unbanked individuals who work hard to conceal their identities. According to the Pew Hispanic Center, 39% of surveyed Latino immigrants cite legal status as a concern for opening bank accounts. Undocumented immigrants make up the single largest underground labor force that engages in cash-based transactions for bill payment, check cashing, money order, money transfer and other financial services. The unbanked often take risks and pay high costs for basic financial services.
“TIO alleviates risks and high costs associated with in-person service at currency exchanges, payday lenders and check cashing centers”, Shahbazi explains. “TIO turns the unbanked into self-banked. It is all about convenience and service”.
The ‘cash preferred’ customer can use the interactive menu in English or Spanish and follow a few simple steps to obtain real-time account information, process payments, update the balance, and get a print confirmation. For the millions of ‘cash preferred’, this amounts to financial freedom and personal empowerment.
What is next for TIO?
TIO’s success is a testament to Info Touch’s innovative approach to offer value-conscious consumers automated bill pay and financial services for an affordable convenience fee.
With phenomenal growth opportunities in leveraging technology to serve the unbanked, Info Touch will soon add money order, money transfer, prepaid credit and debit cards, check cashing and mobile content to an already rich portfolio of financial services.
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