The Bankwatch

Tracking the consumer evolution of financial services

Tempo Debit allows institutions to establish debit card relationships with consumers other than their own checking account customers

Thanks to Bruce at Javelin, for this tip.  While his point is the end of the prospective merchant centric debit system, I also see here the opening for new services from Banks. 

Tempo | News & Events

SAN MATEO, CA — July 17, 2007 — Tempo Payments, Inc., today announced the availability of Tempo™ Debit, the first debit solution that enables financial institutions and other issuers to rapidly deploy comprehensive ACH-based debit card programs. Shattering long-standing barriers to increased debit card use, Tempo Debit allows institutions to establish debit card relationships with consumers other than their own checking account customers. Banks can now provide debit cards that draw on checking accounts maintained at other institutions.

This means that Banks can offer debit cards as a service, as CapitalOne recently did. 

Who will be first to seize this opportunity?

Written by Colin Henderson

July 20, 2007 at 16:58

Posted in Payments

%d bloggers like this: