PayPal Buying TIO Networks

PayPal is buying TIO Networks for $233 million to reach underserved customers, the Wall Street Journal reported. “TIO caters to consumers outside the banking system who make regular payments with cash to telecommunications companies such as AT&T Inc., utilities such as Duke Energy Corp. and other service providers. The Vancouver-based company serves 14 million consumer accounts and 10,000 billers through a network of retail locations and kiosks across the U.S.”

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