Canadian wireless carrier Rogers files for banking license

Canadian wireless carrier Rogers files for banking license

Canadian telco Rogers has filed for a banking license so that it can issue its own credit cards and mobile wallets to its nine million-strong customer base.

Rogers, which own 36% of the Canadian wireless market, has filed with the federal government for permission to open an in-house bank under the banner Rogers Bank in English-speaking territories and Banque Roger in the French quarter.

In a statement to the Globe and Mail, Rogers spokesperson Carly Suppa says: "We are always looking for more ways to deliver value to our customers. The licence, if granted, would give us the flexibility to pursue a niche credit card opportunity to our customers should this make sense at a future date."

Rogers is already rumoured to be working with Visa and TD Bank to develop its own NFC-based mobile wallet. As a bank, the carrier would be better positioned to stake its own claim to the transaction processing revenues and share of float generated by such a venture, wooing customers with promises of discounts on their monthly phone bills.

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