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Telcos to Become Banks as Mobile Payments Rise?

September 6, 2011 by Mobile Payment Magazine

Canadian mobile carrier Rogers has filed to become a bank under Canada’s federal Bank Act, which will allow it to pursue more mobile payment services and a “niche credit card opportunity” for consumers, a Rogers spokesman told CBC.

While it may look odd at first, perhaps banking could be the next stop for carriers. They already handle a lot of payments from consumers and have long-term billing relationships with users.

Read more, via GigaOm.

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Filed Under: News Tagged With: Canada, Rogers

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