TIO selected to provide a network of payment locations to assist Florida’s Turnpike in transition to AET

TIO Networks Corp, a leading multi-channel expedited bill payment processor and Florida’s Turnpike Enterprise (FTE), have partnered to provide payment services to FTE customers in the state of Florida.

Annual toll-booth transaction volumes exceed 650 million transactions or about 1.7 million transactions per day. Currently there are over four million SunPass transponders linked to credit cards for the purpose of paying tolls, yet over 30% of tolls are paid with cash. To accommodate cash-paying customers, the department will introduce a new Toll-By-Plate program, whereby images of vehicles without a valid SunPass transponder will be captured and the associated vehicles’ prepaid Toll-By-Plate accounts will be debited. These accounts will be replenished using TIO’s network of secure, convenient, fast and reliable payment locations.

Customers without a SunPass transponder or a Toll-By-Plate account will be issued invoices which can also be paid at TIO’s network of payment locations as well as the networks of two other companies selected by the Florida Department of Transportation (FDOT). Unpaid toll violations as well as uniform traffic citations can also be paid. All payments conducted via the TIO Network will leverage TIO’s real-time posting capabilities to ensure that customer payments to their accounts or invoices are reflected immediately. A US$1.50 service fee applies per transaction.

“We are pleased to work with an industry leader like TIO Networks to provide a new experience for our SunPass customers,” said Florida’s Turnpike Enterprise director of Toll Operations, Richard Nelson. “TIO will provide 1,695 locations where customers can reload their SunPass using cash, which when combined with the current locations add up to a total of 2,702 outlets statewide,” he added.

“This is a win-win scenario for TIO as it is both an entirely new source of revenue and opens a new channel opportunity in other states as more roadways move to a toll system to pay for new road construction and maintenance, ” added CEO of TIO Networks Corp, Hamed Shahbazi.
 

22 July 2010