PayPal takes aim at banks with new acquisition

Soon it may not be necessary to have a bank account to make payments with PayPal. PayPal and TIO Networks announced today that PayPal would be acquiring TIO for $233 million. With this acquisition, PayPal accesses TIO’s 14 million customer accounts, and a network of agents, including Global Express, ACE Cash Express, and Moneygram. TIO is a bill-payment processing service for those who don’t necessarily use bank accounts for their financial transactions. With its API, you