The new tool will assist more than 60 million American users to safely and securely load cash into their personal Wallet account through TIO’s retail network of self-service automated kiosks and over-the-counter locations.
Upon completion of wallet loading, they can use TIO smartphone or web application for bill payments, as well as track their bill paying history or engage in other Wallet services.
TIO Wallet props up payments from bank accounts as well as credit or debit cards from financial service providers globally, said the US firm.
TIO Networks chairman and CEO Hamed Shahbazi said the firm succeeded to design Wallet to meet evolving needs of the underbanked consumer and TIO transition is expected to touch $1bn per annum.
Consumers having strong financial credibility will be offered affordable loans and other traditional banking services not commonly offered to America’s unbanked or underbanked populations, said TOI.
