May 20, 2006
Product Naming: Would You Trust Your Uncle With Your Money?
If there ever was a category where creating an emotional connection with the consumer was particularly important, it's Financial Services. That's why I like the new Tio product name. The company's target market includes Hispanics, who are historically accustomed to dealing in cash.
Who better to trust than your uncle? That’s the Spanish translation for Tio. As you know, family in general is important to Hispanics as well.
TIO Networks, formerly Info-Touch Technologies, a Vancouver company behind one of the fastest growing bill payment and financial services networks in the United States, changed its name to capitalize on the emerging brand recognition of its signature mode of bill payment and financial services kiosks, The TIO Network.
Tio will appeal to the Hispanic community in the U. S. Southwest.
Here are some other recent stories on payment processing and kiosks:
- The Wilmington Star reprints a New York Times story on how convenience stores are installing kiosks to serve as banks for the unbanked.
- The BBC reports on the 360money card, a pre-paid debit card intended to allow people without bank accounts to make purchases over the phone or online.
- A General Electric press release on their CashWorks bill payment and check-cashing kiosks.
- Convenience Store/Petroleum reports on TIO Express, which “enables retailers to accept cash payments for multiple billing partners through a web-based application or through the retailer’s own point-of-sale (POS) system.”
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