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Rogers to issue NFC credit card

“Rogers expects to launch a credit card that will be part of a ‘virtual wallet’ as the telecom company moves to mobile payments on smartphones,” the Montreal Gazette reports:

Rogers

Chief executive Nadir Mohamed said Monday that Rogers is waiting for approval to offer a niche credit card that would serve its roughly 10 million customers.

“There’s no question that when we launch our credit card, it will also be one of the first credit cards on your virtual wallet,” Mohamed said after a speech to Montreal’s Canadian Club.

While he wasn’t specific on the timing of the launch, Mohamed predicted that in five years it will be common to use a smartphone as a digital wallet to store credit cards and identification.

In May, the mobile network operator and Canada’s CIBC bank agreed to jointly launch an NFC payments service later this year.

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