Rogers has announced today it has finally been granted approval by the Minister of Finance to incorporate Rogers Bank, part of the company’s plan to launch a credit card. The Letters Patent of Incorporation granted gives Rogers 12 months to go forward with their plans to meet requirements of an Order to Commence and Carry on Business:
“Today’s announcement is a significant milestone in our plan to issue a credit card,” said David Robinson, Vice-President, Emerging Business, Rogers. “The Rogers credit card program represents a new growth opportunity while giving customers an opportunity to accumulate value in a future Rogers loyalty program.”
Once requirements are met for the Order to Commence, Rogers will then be able to offer credit card services to its customers. The company first applied to become a bank back in fall of 2011, with CEO Nadir Mohammed noting at their recent shareholders’ annual general meeting a mobile credit card would be coming soon to “strengthen customer loyalty and retention.”
Rogers last fall teamed up with CIBC for the first NFC mobile credit card transaction in Canada. Who’s ready to get their own Rogers credit card?
Update: Rogers tells us this is the second stage of three towards their final approval to then commence their credit card business.