Rogers announced yesterday the Office of the Superintendent of Financial Institutions has issued the company an Order to Commence and Carry on Business, which means a subsidiary of Rogers will be able to start offering credit card services:
“Our credit card business will allow us to deliver a valuable offering to our customers across the country and we are thrilled to have completed this final step in the application process,” said David Robinson, Vice-President of Emerging Business, Rogers Communications. “Within the next year, our customers will be able to participate in our credit card program that will give them the opportunity to accelerate the rate at which they earn rewards in the Rogers First Rewards program.”
Back in fall of 2011, Rogers applied to become a Canadian bank to pursue a “niche credit card opportunity”. Rogers CEO Nadir Mohamed told shareholders in April the company plans to implement their credit card into mobile wallets. Last fall Rogers and CIBC implemented the first NFC mobile credit card transaction via select partnered smartphones.
In May of this year, the company received approval from the Minister of Finance to incorporate Rogers Bank and this final step announced means its credit card ambitions are ready to go.
Rogers will soon commence a pilot program and commercial availability will start in 2014, as the credit card looks to allow customers to quickly earn faster rewards via the Rogers First Rewards program.
Who’s ready to sign up with Rogers for a credit card?