“The constrained economy has greatly increased the need for emergency bill pay solutions,” said Shahbazi. “Consumers are expected to save billions in late fees over the next few years due to expedited bill payment services like TIO MobilePay.”

Expedited bill payments with credit cards are particularly important to the 60 million Americans who are underbanked, meaning they have limited access to mainstream financial services. These Americans face costly reprecussions such as high reconnection and interest fees when they’re unable to pay bills on time.

TIO MobilePay is powered by TIO Wallet and is the first of a suite of unified cloud-based products for America’s underbanked population that will launch later this year. TIO MobilePay enables consumers to not only pay their bills, but also schedule bill payments to ensure payments are made on time. In subsequent product releases, consumers will be able to load cash into their TIO Wallet from thousands of TIO’s walk-up cash pay locations, and use those funds to not only pay bills, but also transfer funds and make purchases. For more information visit: www.tiomobilepay.com or www.tionetworks.com. Join the conversation at www.twitter.com/TIOWallet or on www.facebook.com/TIOWallet.

“The constrained economy has greatly increased the need for emergency bill pay solutions,” said Shahbazi. “Consumers are expected to save billions in late fees over the next few years due to expedited bill payment services like TIO MobilePay.”

Expedited bill payments with credit cards are particularly important to the 60 million Americans who are underbanked, meaning they have limited access to mainstream financial services. These Americans face costly reprecussions such as high reconnection and interest fees when they’re unable to pay bills on time.

TIO MobilePay is powered by TIO Wallet and is the first of a suite of unified cloud-based products for America’s underbanked population that will launch later this year. TIO MobilePay enables consumers to not only pay their bills, but also schedule bill payments to ensure payments are made on time. In subsequent product releases, consumers will be able to load cash into their TIO Wallet from thousands of TIO’s walk-up cash pay locations, and use those funds to not only pay bills, but also transfer funds and make purchases. For more information visit: www.tiomobilepay.com or www.tionetworks.com. Join the conversation at www.twitter.com/TIOWallet or on www.facebook.com/TIOWallet.

New York, NY, (June 12, 2012)

“The demand for mobile bill payment is rapidly increasing as is the need to pay multiple bills in one place from any bank,” said Hamed Shahbazi, Chairman and CEO of TIO Networks. “Paying bills by credit card is also attractive to both reward seekers and consumers who need that bridge in between pay checks.”

Another attractive feature of TIO MobilePay is the option to make emergency payments that are processed in real time. A recent survey conducted by the National Foundation for Credit Counseling found 58 million U.S. adults paid their bills late. Consumers spent a staggering $20 billion in credit card bill late fees in 2009, according to the survey.

“The constrained economy has greatly increased the need for emergency bill pay solutions,” said Shahbazi. “Consumers are expected to save billions in late fees over the next few years due to expedited bill payment services like TIO MobilePay.”

Expedited bill payments with credit cards are particularly important to the 60 million Americans who are underbanked, meaning they have limited access to mainstream financial services. These Americans face costly reprecussions such as high reconnection and interest fees when they’re unable to pay bills on time.

TIO MobilePay is powered by TIO Wallet and is the first of a suite of unified cloud-based products for America’s underbanked population that will launch later this year. TIO MobilePay enables consumers to not only pay their bills, but also schedule bill payments to ensure payments are made on time. In subsequent product releases, consumers will be able to load cash into their TIO Wallet from thousands of TIO’s walk-up cash pay locations, and use those funds to not only pay bills, but also transfer funds and make purchases. For more information visit: www.tiomobilepay.com or www.tionetworks.com. Join the conversation at www.twitter.com/TIOWallet or on www.facebook.com/TIOWallet.

TIO Wallet

TIO Wallet is the premiere payment wallet for the underserved. It is designed to serve the estimated 60 million Americans with limited access to mainstream financial services. For more information on TIO Wallet, please follow us on Twitter @TIOWallet (www.twitter.com/TIOWallet), visit our Facebook page at www.facebook.com/TIOWallet, or visit http://www.TIOmobilepay.com for a video preview.

Media Contact:

Jennifer Maloney, Media Relations – Sip Publicity
Tel: 604-727-4506
Email: Jennifer@sippublicity.com

John Lewis, Investor Relations – TIO Networks
Tel: 416-523-7086
Email: jrlewis@TIOnetworks.com

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