Built on Stellar
Tempo is an electronic payment institution and the principal EU anchor for Stellar blockchain payments. Tempo acts quickly to ensure pricing, foreign exchange rates, agent opportunities, and customer service remain highly competitive in regard to local markets.
Traditional remittance flows can be slow and cumbersome, constricted by how legacy systems currently operate. Money Transfer Operators (MTOs) charge senders high fees to make up for increased operating costs and technical inefficiencies. Receivers end up losing value due to the many times their money passes through unfavorable exchange rates before it arrives at the end destination.
Over the years, Tempo has seen customers struggle to make international payments as global regulations become stricter and financial systems fail to streamline operations. Tempo needed a solution that would remove the friction from the remittance flow while being easy, fast, and transparent for their customers to use.
By utilizing the latest cutting-edge technology empowered by Stellar, Tempo created a robust platform that drives transactions at the speed of lightning. Using a powerful PSP engine Tempo Money Transfer is able to perform remittances in near real-time. This means that users no longer need to wait 1-3 days for the funds to be transferred to their loved ones – everything is done fast, secure, and using the best possible prices and conversion rates. Everything is done Stellar.
“We agreed that we were going to use blockchain technology and specifically this stablecoin only if it would really help Tempo to develop its payments solutions and provide a real benefit to the business and customers. Stellar really met our expectations.”
Suren Hayriyan
EXECUTIVE DIRECTOR · TEMPO
Read more about how Tempo is building on Stellar Blockchain