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Discover Financial signs agreements to issue debit cards

US-based ATM/debit network Pulse and its parent company, Discover Financial Services, have signed agreements with seven additional financial institutions for the issuance of Discover debit cards.

The banks’ Discover debit card programs are at varying stages of implementation. The parties to the agreement are: First National Bank in Munday, First National Bank of the Mid-Citi, The First National Bank of Baird, The First National Bank of Barnesville, The First National Bank of Weatherford, The First Security Bank, and ValueBank Texas.

Scott Heitkamp, president and CEO of ValueBank Texas, said: I’m anticipating a significant enhancement to ValueBank’s bottom-line profitability because of Discover Debit’s lower network expenses and excellent revenue opportunities.

Judith McGuire, senior vice president of product management at Pulse, added: Introducing a new debit card brand can help financial institutions boost card usage by providing an opportunity to market the card to new, low-activity or inactive accounts.