Cadence Bank has partnered with Discover to create the Cadence Bank Debit Card, which will be powered by Discover Debit and issued to all of the bank’s cardholders during the second quarter of the year.
“Evolving consumer needs are redefining how clients utilize traditional payment options,” Debbie Innes, the executive vice president of retail banking at Cadence, said. “By enhancing our signature debit program, we are making it easier for our cardholders to move, manage and spend their money. 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.”
Through the bank’s partnership with Discover, Cadence benefits from a competitive interchange rate structure and the ability to focus on the bank’s brand on the front of the new cards.
“We are providing Cadence with an exception signature debit alternative to entrenched industry models,” Dave Schneider, the senior vice president of debit strategies at Discover and president of PULSE, which manages the company’s debit division, said. “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.”