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Coinstar Inc., a Bellevue, Wash.-based self-service coin-counting company, has purchased 230,620 common shares of Tio Networks Inc. for C$172,965, both companies tell ATM&Debit News, a CardLine sister publication. Both Coinstar and Burnaby, British Columbia-based Tio describe the transaction as private placement, subject to government approval. Tio will use the funds to finance a pilot deployment of up to 50 multifunctional bill-payment kiosks in key Coinstar supermarket locations beginning in the fourth quarter, says Marci Maule, a Coinstar spokesperson, who notes Coinstar is still in the process of "firming up retail partners and locations" for the test. Tio has been synonymous with deployment of bill-payment kiosks that accept cash for bill payments. Lately, however, Tio has moved away from kiosks to in-person bill payment. Kiosks serve only 1,400 of Tio's nearly 13,000 bill-payment locations.

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