Tempo Payments CEO Blames Durbin Amendment for Demise
Tempo Payments prepares to shut down, blames Durbin Amendment
From ATM Marketplace: Digital Transactions reports that Tempo Payments Inc., a leading company in the decoupled debit card niche, is going out of business, blaming the Federal Reserve Board’s new debit card regulations. The company claims the new rules will cut its revenues in half.
“We are a casualty of the Durbin Amendment,” said Mike Grossman, chief executive, Tempo Payments Inc. “It’s very frustrating. We were clearly on a path to significant success.”
