The new site marks the company’s first TIO-branded web payments site for consumers, enabling them to pay 9,000 U.S. household billers with credit, debit, or prepaid cards without needing to register. Additionally, users have the option to register to store their account information and payment history in the cloud.
TIO acquired Chargesmart in 2014 and Jake Cunningham, VP of consumer payments, describes the rebrand as a “natural progression” to improve the user experience across touchpoints. Since launching in 2008, Chargesmart has processed more than $1.2 billion in online payments. When coupled with TIO’s walk-in billpay service, which processes in excess of $8 billion annually, TIO expects to serve a significant number of people who pay bills outside of mainstream banking channels.
The Vancouver, B.C.-based company’s CEO Hamed Shahbazi highlighted his vision for TIO.com to “evolve into a direct-to-consumer financial leader with bill pay serving as a primary and fundamental service offering.” To further implement that vision, Shahbazi says the plan is “to add incremental and contextually relevant services and to expand to new geographies in the future.”
This news comes on the heels of TIO’s acquisition of Softgate Systems in April which expanded the company’s geographical footprint from 15 U.S. states to 46. The company launched TIO Mobile Pay at FinovateSpring 2012.