TIO Networks : Are we drifting to a cashless society?
Tio Networks is processing approximately 80 million transactions worth roughly $9 billion in payments annually in the United States
For generations, we have spoken about the idea of a ‘cashless society’ and how it would function. The question is, are we going to be a completely cashless society soon? Founder of the multi-channel payment solution, TIO Networks, Hamed Shabazi does not think so, even though we have numerous online payment methods being used today.
Hamed founded TIO Networks as a kiosk solution provider in 1997. He has since successfully transitioned TIO Networks into a multi-channel payment solution specializing in bill payment and other financial services through a variety of automated self-serve, retail point-of- sale, mobile and web-based methodologies processing approximately 80 million transactions worth roughly $9 billion in payments annually in the United States. Hamed has recently been fascinated in developing payment products that are safe, viable and commercially reasonable alternatives for the low to moderate income and underbanked demographic groups.
In this interview Hamed explains why cash has been successful for so long. He goes on to talk about how he plans to grow the company towards this trajectory. Viewers also get the chance to hear from Pardeep Singha, the Senior Technology Analyst for Haywood Securities Inc, on what he likes about the company from an investment perspective.