tio networks corp

Founded in 1997 and headquartered in Vancouver, Canada, TIO Networks was a cloud-based bill payment processing and receivables management provider. The company specialized in offering services for the "underbanked" and "unbanked" populations, allowing them to pay utility, telecom, and other bills through a network of self-service kiosks, retail point-of-sale locations, and mobile applications. In July 2017, PayPal acquired TIO Networks for approximately $233 million to expand its reach into in-person bill payments. However, in November 2017, PayPal suspended the TIO platform after discovering a significant security vulnerability and ultimately decided to permanently terminate the service.