At the start of the 2007/08 season the North Otago Cricket Senior competition had gone without a challenge trophy for over a decade. Originally the Dick Hunt Memorial Rosebowl was used as a challenge trophy which had seen some memorable holders, including the Albion Senior Reserve team holding it at one point, and some exciting contests on the field. With the restructuring of the top level of club cricket in the early 1990s the Dick Hunt Rosebowl was changed to be awarded to the winner of the senior holiday competition, introduced as part of the restructuring.
It was this in mind that the North Otago Cricket Association decided to re-introduce a challenge trophy to senior club cricket at the start of the 2007/08 season naming it after two stalwarts of cricket in North Otago and life members of the Association, Edward 'Ted' Tempero and Russell Payne. The rules relating to its defence are sometimes described as 'Ranfurly Shield rules' due to the similarity of the rules to New Zealand rugby's famous challenge trophy. When in possession of the Payne Tempero Cup, all of the holders home Borton Cup round robin matches are automatically a defence with any playoff matches excluded. In order for the challenger to win possession of the Cup they must beat the holder at the holder's home ground during a challenge. A draw, tie, no result or cancellation will mean the holder retains the Cup. At the completion of a season the holder will have their name engraved on the Cup.
The first two seasons saw only two holders - Oamaru and Union. The very first match with the Payne Tempero Cup on the line was played at King George Park between Oamaru and Union on the 27th of October 2007. Oamaru were the victors on this occasion but Union gained some revenge taking the cup for the first time a few weeks later. Oamaru's tenure saw the first tie, Oamaru tying with Waitaki Boys High School. Union's successful challenge started the longest rein so far with the Union Cricket Club senior team going undefeated in Payne Tempero Cup matches for two seasons and 12 successful defences, before Albion took it for the first time during the second round of the Borton Cup competition in 2009/10. Since then cup has changed fairly regularly with teams unable to retain for more than three defences. Albion are the current holders at the end of the 2010/11 season.(July 2011)