The Minister of Finance has granted Rogers the necessary papers to incorporate “Rogers Bank.” This is part of the carriers plans to offer credit card services, expand deeper into the mobile wallet, plus initiate a customer loyalty program.
According to the press release it notes that “Rogers has twelve months to move forward with the application process to meet the requirements of an Order to Commence and Carry on Business. Upon meeting the requirements for the Order to Commence, Rogers will have the approval to begin offering credit card services.”
A couple weeks back Nadir Mohammed, President and CEO of Rogers, stated that “Your wireless device already acts as your phone, your camera, your computer… in the next five years it will act as your mobile wallet. For you this means safely storing all your information in one place… from credit cards to transit passes. For Rogers it means a new business that leverages the trusted security of the SIM… we’ve already partnered with CIBC and look forward to working with all of the other banks.”
Update: A bit of clarification on this post. This is the second step of three in the application process for Rogers. The carrier now has up to a year to meet requirements from the Minister of Finance to fully complete the application, then at that point they will be approved to commence business.