PayPal will buy TIO Networks to expand bill pay services to meet more underbanked customers

PayPal has agreed to buy TIO Networks, a North American multi-channel bill payment processor, to help people worldwide have better access to financial services and to make it easier to pay their bills more affordably.
The agreement means that PayPal will acquire the Vancouver, Canada-based TIO for $3.35 CAD ($2.56 USD) per share in cash or an approximate $304 million CAD ($233 million USD) equity value.
The acquisition means that PayPal can expand its bill payment offerings, which currently only