Canadian Wireless Carrier Starts Selling Financial Services to Fuel Growth

Posted by Techvibes NewsDesk

Canadian wireless carrier Public Mobile may not doing so well by just selling talk, text, and data plans for mobile phones.

The apparently struggling company is offering a new, unexpected product to fuel growth: financial services.

The fledging discount carrier is expanding into "discount banking," which will enable customers to pay bills, send money orders, and conduct other financial duties at a cheaper rate than what is typically charged by big banks. Chief executive officer Alex Krstajic told the Financial Post that this new service has been "a gradual evolution," admitting that this was not in the company's original plans. 

"Public Mobile's philosophy has always been to give people great service at affordable prices," Alek said in a release. "The introduction of Public Cash Services is an extension of that. We believe in offering simple and convenient services and that's why we now give customers the ability to make unlimited bill payments for just $5 per month and money transfers overseas at industry leading rates."

As of last count (back in 2011), Public Mobile has just 200,00 subscribers. Not unlike competitors Wind Mobile and Mobilicity, the startup telco has fallen short of initial projections. Three years into existence, the discount upstarts have had little impact on Canada's telecommunications industry: the Big Three of Rogers, Telus, and Bell still dominate more than 90% of the nation's mobile market.

Rogers applied for a banking license last year but has not yet done anything with it.

Photo: Darren Calabrese, National Post

Company:
Rogers Communications
Website:
http://www.rogers.com
Location:
Toronto, Ontario, Canada

We are a diversified Canadian communications and media company. We are engaged in wireless voice and data communications services through Wireless, Canada's largest wireless provider and the operator of the country's only national Global System for Mobile Communications ("GSM") based network. Through Cable we are one of Canada's largest providers of cable television services as well as high-speed Internet access... more

Company:
Mobilicity
Website:
http://www.mobilicity.ca
Location:
Vaughan, Ontario, Canada

We believe that Canadians deserve an alternative wireless experience that delivers better value, more freedom and most of all choice. Simply a better wireless experience No Term Contracts Unlike other providers that lock you into a term contract, Mobilicity has no term contracts or cancelation fees. We are so certain that you’ll love us and want to stay that we don’t have to force you – the choice is yours to make... more

Company:
Public Mobile
Website:
http://www.publicmobile.ca
Location:
Toronto, Ontario, Canada

Formed in 2008, Public Mobile provides unlimited talk and text services to value conscious customers in Ontario and Quebec. There are no contracts, no credit checks and no surprises. Public Mobile launched its network service in May 2010 in Toronto and in June 2010 in Montreal. Public Mobile is building its network from Windsor to Quebec City. The company purchased its spectrum licence for $52M in July 2008.... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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