BUSINESS

Rogers Credit Card To Launch In 2014

09/06/2013 05:26 EDT | Updated 11/07/2013 05:12 EST
AP
The Rodgers Communications sign marks the company's headquarters in Toronto, Wednesday, April 25, 2012. (AP Photo/The Canadian Press, Aaron Vincent Elkaim)
TORONTO - Rogers Communications Inc. (TSX:RCI.B) has received approval from regulators to start offering its own credit card.

The telecommunications giant announced Friday that the Office of the Superintendent of Financial Institutions has granted it an order to commence and carry on business.

Rogers will start offering its credit card in 2014 but a select group of customers will be able to use the card sooner as part of a pilot program.

Although the card will be available to everyone, Rogers customers who use the card will be able to accumulate loyalty points, under the Rogers First Rewards program.

The credit card is the primary focus of Rogers Bank, which was incorporated earlier this year.

Last month, Canadian Tire Corp. (TSX:CTC.A) announced it was looking for a financial partner for its own credit card business.

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