QuikTrip Expands Rewards Debit Card Program With Tempo Platform

by Mercator Advisory Group 0

SAN MATEO, CA–(Marketwire – August 3, 2010) – QuikTrip is expanding its QuikTrip Rewards Debit Card program, utilizing Tempo’s affinity debit card platform and re-issuing the cards with Tempo partner First Bank & Trust of Brookings, SD, part of Fishback Financial Corporation. Tempo-powered affinity debit cards link to consumers’ existing checking accounts and can be used everywhere Discover cards are accepted.

The QuikTrip Rewards Debit Card provides consumers with a fuel purchase discount of 5 cents per gallon at QuikTrip for the first 90 days after activation and 2 cents per gallon thereafter. As a special introductory offer, those activating their cards before November 30, 2010, will qualify for a fuel purchase discount of 10 cents per gallon during the initial 90 days, and 2 cents per gallon thereafter.

The card also provides quarterly cash-back rewards for purchases made at millions of merchant locations outside of QuikTrip. Using Tempo’s affinity debit card platform, consumers can sign up for and activate their cards on the web, and because they’re using existing checking accounts there is no need to change banks.

“With Tempo, we’re introducing the second generation of QuikTrip Rewards Debit,” said QuikTrip’s Treasurer, Stephen Fater. “We’re leveraging the Discover network and the Tempo platform to deliver greater value, convenience and ease of use to our customers.”

Tempo is the leading provider of co-branded debit cards that can be used on a major payment network. Tempo’s web-based debit card platform enables merchants and other organizations to offer their own branded debit cards and provides a web portal for consumers to apply for and activate cards, as well as track purchases and rewards.

“QuikTrip is leveraging the Tempo platform to give its customers the freedom to use their checking accounts with a debit card of their choice that pays back with immediate gas discounts and regular cash-back rewards,” said Tempo CEO Mike Grossman. “Consumers prefer debit over credit cards, and Tempo is providing much needed innovation to this payment segment with a revolutionary web-based program that enables businesses and organizations to quickly and easily offer debit cards without requiring the cardholder to open a new checking account.”

Tempo’s unique software-as-a-service technology makes it easy for companies to offer rewards debit cards and provide the ability to link an independent branded debit card to a customer’s existing checking account. The Tempo-enabled debit cards are partner-branded, generate valuable cardholder rewards, and can be used for online and offline purchases and ATM withdrawals. Working with First Bank & Trust, Tempo manages all aspects of card issuance, including risk management, application processing, card fulfillment, authorization and settlement.

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.

This card is issued by First Bank & Trust, Brookings, SD. First Bank & Trust is a member of the FDIC and part of the Fishback Financial Corporation.