Discover Financial Launches SignatureDebit Cards

February 14, 2006, 1:00 a.m. EST 1 Min Read

SCHAUMBURG, Ill. - (02/14/06) -- Discover Financial Services unveiledits own signature debit card Monday, becoming the first credit cardcompany to compete directly with Visa and MasterCard in thesignature debit market. Discover Debit is the first new signaturedebit card to be offered to credit unions and banks since the 2004antitrust case preventing Visa and MasterCard from barring theirissuers from offering competing cards. The new cards will beoffered to the 4,100 credit union and bank issuers of PULSE, whichwas acquired last year by Discover Financial, a subsidiary ofMorgan Stanley. Participation will not require discontinuation anyexisting relationship with other signature debitprograms.

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