Boston, MA 05/13/2014 (wallstreetpr) – One of the biggest regulated electric and gas delivery utility companies, Public Service Electric and Gas Company, a subsidiary of Public Service Enterprise Group Inc. (NYSE:PEG) disclosed a partnership deal with TIO NETWORKS CORP (OTCMKTS:TNCGF) for bill payment kiosks at various locations.
Payment Kiosks
The partnership allows TIO Networks to deploy bill payment kiosks at 16 walk-in centers of customer service in Public Service Electric and Gas Company. The utility company has about 2.2 million electricity customers and 1.8 million gas customers. They will now have this facility to access a more convenient and faster ways to pay bills either in bank ACH in walk-in offices, checks, and cash, besides the extended hours facility of making payments by cash from local retail locations.
As a result of an alliance between the two companies, TIO NETWORKS CORP (OTCMKTS:TNCGF) payment options provide real-time posting besides kiosk services in all the Public Service Electric and Gas Co. customer service center. There are more than 2K authorized payment capabilities of local retailers offering similar service for the benefit of the customers.
The partnership also enables customers of Public Service Electric and Gas Co. to access expedited payments facility on real-time process basis.
Rating of Stock
There are at least two views on the rating of Public Service Enterprise Group shares. While one brokerage has downgraded the stock, another one has upgraded it. Both have reasons for their rating basis.
RBC Capital Markets has reportedly downgraded the shares of Public Service Enterprise Group Inc. (NYSE:PEG) to hold citing that the sector is expensive now. The downgrade came after the company disclosed that it will settle a recovery of $1.2 billion instead of $2.6 billion from customers to look after its natural gas and power systems against hurricanes. The brokerage termed it disappointing.
Another brokerage, Wells Fargo, upgraded the stock to “Outperform” citing the necessary to revise its valuation call to provide an effect to sum-of-the-parts.
