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Cadence Bank Launches New Discover®️ Debit Program

RIVERWOODS, Ill. and BIRMINGHAM, Ala., Jan. 14, 2013 — Discover has joined with Cadence Bank to create the new Cadence Bank Debit Card powered by Discover Debit. The new card will be issued to all of the bank’s debit cardholders during the second quarter of 2013.

Cadence recently completed a comprehensive evaluation of its debit options in response to the changing financial services landscape and determined an affiliation with Discover made the most strategic sense.

“Evolving consumer needs are redefining how clients utilize traditional payment options. By enhancing our signature debit program, we are making it easier for our cardholders to move, manage and spend their money,” said Debbie Innes, executive vice president of Retail Banking at Cadence. “The affiliation with Discover is an important step for Cadence that will help us deliver relevant solutions to clients in a highly competitive market. We will be focused on innovative product enhancements that keep pace with our clients’ needs.”

Discover Debit provides convenience and security, with broad national acceptance as well as leading fraud-prevention and data-security tools to help mitigate cardholders’ exposure to debit card fraud. Through the affiliation with Discover, Cadence receives a competitive interchange rate structure and the flexibility to customize the front of the card with a focus on the bank’s brand.

 “We are providing Cadence with an exceptional signature debit alternative to entrenched industry models,” said Dave Schneider, senior vice president of debit strategies for Discover, and president of PULSE, which manages Discover Debit for its parent company. “With Discover Debit, Cadence cardholders can expect nationwide merchant acceptance at more than 8.5 million locations as well as around-the-clock reliability from our network. The bank also benefits from Discover Debit’s superior value proposition for issuers, including highly competitive interchange revenue and lower network fees.”

Cadence also is participating in Buzz Points™ through PULSE® Loyalty Edge. The multi-faceted loyalty program incorporates merchant rewards and aims to drive spending to local merchants in the communities the bank serves. This allows Cadence to build local commercial-client relationships and create value for all involved parties.

Prior to issuing the new Cadence Debit Card to its clients, Cadence conducted a successful pilot test of the card with its employees in November and December 2012. Feedback from the pilot will help ensure a seamless transition for Cadence clients.

“We made this change to benefit our clients, our businesses and our employees,” added Rick Claypoole, director of product management and marketing at Cadence. “We see Discover Debit as a smarter solution that will create better opportunities for each and every one of our card holders and deliver superior value to our bank.”

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America’s cash rewards pioneer, and offers home loans, private student loans, personal loans, online savings accounts, certificates of deposit and money market accounts through its direct banking business. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading debit/ATM networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discoverfinancial.com.

About Cadence Bank

Cadence Bank, based in Houston, Texas, is an $8.2 billion regional bank with more than 70 locations in Alabama, Florida, Mississippi, Tennessee and Texas. Backed by 128 years of financial expertise, Cadence provides corporations, middle-market companies, small businesses and consumers with a full range of innovative banking and financial solutions. Services and products include commercial and business banking, treasury management, international banking, specialized lending, commercial real estate, wealth management, investment and trust services, financial planning, retirement plan management, business and personal insurance, consumer banking, consumer loans, mortgages, home equity lines and loans, and credit cards. Clients have access to leading-edge online and mobile solutions, interactive teller machines, and more than 56,000 ATMs. The Cadence team of 1,300 associates is committed to exceeding customer expectations and helping its clients succeed financially. Cadence Bank, N.A., Cadence Insurance, Cadence Investment Services, Inc., and Linscomb & Williams are direct or indirect subsidiaries of Cadence Bancorporation. Additional information about Cadence Bank is available at cadencebank.com. Cadence Bank, N.A. Member FDIC. Equal Housing Lender.
 
 
Contact Information: 
Danielle Kernell
Cadence Bank, N.A.
713-871-4051 direct | 713-392-7709 mobile
 
danielle.kernell@cadencebank.com



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