Introduces Web-Based Platform that Enables Organizations to Offer
Open Loop Debit Cards with Innovative Rewards
Open Loop Debit Cards with Innovative Rewards
SAN MATEO, CA — Oct. 19, 2009 — Tempo today introduced a new Web-based platform that enables organizations to quickly and easily offer affinity and co-branded debit cards to customers, contributors and members. These organizations can now provide open loop debit cards and offer rewards ranging from cash-back to charitable contributions. The debit cards enabled by Tempo are issued by First Bank & Trust, of Brookings, SD, part of Fishback Financial Corporation. Tempo’s platform enables these cards to be linked to cardholders’ pre-existing checking accounts.
Tempo-enabled debit cards are affinity partner-branded, generate valuable cardholder rewards, and can be used for online and offline purchases and ATM withdrawals. In a related announcement today, the Breast Cancer Fund, Greenpeace and Surfrider Foundation unveiled Tempo-powered debit card programs that will generate fundraising contributions from everyday purchases (see related press release: “Non-Profit Groups Announce Affinity Debit Cards”).
“Tempo makes it possible to leverage the growing consumer preference for debit cards as the primary payment vehicle,” said Tempo CEO Mike Grossman. “Our Web-based platform enables organizations to quickly and easily offer affinity and co-branded debit cards, and for customers, contributors and members to select a debit card that is aligned with the organization of their choice.”
Tempo’s new solution is supported by an innovative software-as-a-service (SaaS) technology platform, which makes it easy for organizations to offer affinity and co-branded debit cards. It is also easy for consumers to apply, activate their cards, and track purchases online. Working with First Bank & Trust, Tempo manages all aspects of card issuance, including risk management, application processing, card fulfillment, authorization and settlement.
Organizations can now offer debit cards and motivate their target consumers with rewards such as cash-back or charitable contributions, at no additional cost to the cardholder.
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About First Bank & Trust
First Bank is part of Fishback Financial Corporation, South Dakota’s largest bank holding company with assets of over $1.6 billion. Family owned and operated since inception, the organization is built around the Fishback family’s philosophy that bankers can be both conservative risk managers and entrepreneurs — a philosophy that has guided the organization since 1880. Today, Fishback Financial owns five banks in South Dakota and Minnesota, as well as a number of nonbank subsidiaries. Visit us online at www.fishbackfinancial.com.
About Tempo
Tempo is the leader in enabling organizations to quickly and easily offer affinity and co-branded debit cards to their customers, contributors and members. The open loop cards are rewards-based, partner-branded, and linked to the consumer’s existing checking account. Tempo provides its affinity partners with a Web-based platform that makes it easy to launch and market co-branded debit programs. The partners benefit by generating new revenue, and building loyalty through the delivery of enhanced cardholder value. Tempo is privately held and is headquartered in San Mateo, CA. For additional information, visit www.tempo.com.
Tempo Media Relations:
Pete Bartolik
508-283-4112
pete@bartolik.com
