Back in 2011, Rogers Communications filed to become a bank. The Toronto-based telco's efforts have now materialized, as the Office of the Superintendent of Financial Institutions has issued an Order to Commence and Carry on Business, authorizing a subsidiary of Rogers to begin offering credit card services.
Leading up to commercial availability in 2014, Rogers will roll out a pilot program to begin offering credit card services to a select group of customers, the company says.
"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," explains David Robinson, Vice-President of Emerging Business for Rogers.
"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," he added.