Rogers Bank

What Rogers Bank does

Rogers Bank is a Canadian federally regulated bank operating as a wholly owned subsidiary of Rogers Communications (TSE: RCI). Founded in 2013 and headquartered in Toronto, the bank employs 501-1,000 staff and provides consumer banking products in Canada, with credit cards as its primary offering. Its product suite is anchored by the recently launched Rogers Red World Legend Mastercard (March 2026), positioned as Canada's first World Legend tier card and targeted at consumers with minimum personal income of $150,000 or household income of $200,000.

The bank's technology relies on Mastercard's global payment infrastructure rather than proprietary rails, and its core product is the credit card portfolio, where interchange, transaction, and interest income from revolving balances are the economic engine. Pricing on the new premium product is subscription-based at a $495 annual fee, bundled with 3% cash back on Rogers services, a $200 annual entertainment credit, 10 complimentary Roam Like Home roaming days for eligible Rogers wireless customers, and 0% foreign transaction fees. Distribution is digital-first: online application through the Rogers Bank website, with cards delivered to approved applicants, and marketing leverage through the Rogers Communications ecosystem.

The business model is consumer-banking-as-a-service of the parent conglomerate: Rogers Bank monetizes its card portfolio through a mix of recurring annual fees, interchange on purchases, and net interest margin, while extracting distribution advantage by cross-selling into Rogers Communications' existing wireless subscriber base. The partnership with Mastercard, formalized in early March 2026, underwrites the premium-tier launch and access to The Mastercard Collection of dining, travel, and entertainment experiences.

Name

Rogers Bank

Legal name

Rogers Bank

Website

https://rogersbank.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Rogers Bank is a federally regulated Canadian bank and subsidiary of Rogers Communications that issues Mastercard credit cards, including the premium Rogers Red World Legend, to Canadian consumers via digital channels.

Ownership category

akta.pro rank

Product category

Consumer Credit Cards

NAICS

Credit Card Issuing (52221)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Consumer credit cards
• Retail banking services
• Payment cards
• Credit card lending
• Financial services

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Credit Card Operations: Rogers Bank generates revenue through credit card operations including annual fees ($495 for World Legend card), transaction fees, interchange fees on purchases, and interest income on revolving balances.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Rogers Bank is a Canadian banking firm and a wholly-owned subsidiary of Rogers Communications Inc. It primarily issues and manages consumer credit cards, with its flagship being the Rogers Red World Legend Mastercard. The bank targets high-income Canadian consumers and earns revenue through annual fees, interchange fees, transaction fees, and interest income on revolving credit balances.

Differentiator

Problem solved

Functional benefit

Brands

• Rogers Red World Legend Mastercard: Canada's first World Legend tier Mastercard, an ultra-premium credit card with 3% cash back, $200 annual entertainment credit, and premium travel benefits.

Products and services

• Rogers Red World Legend Mastercard

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• MastercardcoreTechnology or Integration · 2 March 2026Rogers Bank partnered with Mastercard to launch Canada's first World Legend tier credit card. The partnership leverages Mastercard's global payment infrastructure and premium brand positioning to deliver exclusive benefits including access to The Mastercard Collection of dining, entertainment, and travel experiences.

Recent moves4 records

Expansion highlights4 records

Direct peers

• MBNA (TD): TD-owned specialist credit-card issuer known for co-branded affinity and rewards cards. Comparable to Rogers Bank as a Canadian card-centric operator with a brand-partnership orientation similar to Rogers Bank's telecom bundling.
• Capital One Canada: Card-focused non-depository-style issuer operating in Canada. Comparable to Rogers Bank as a Canadian credit-card-centric business competing for rewards-driven consumer cardholders.
• American Express Canada: The dominant premium-card issuer in Canada (Cobalt, Platinum). Directly comparable to Rogers Bank as both compete for high-income Canadian cardholders with annual-fee-heavy, rewards-rich cards.

Emerging players

• Tangerine Bank: Direct-bank subsidiary of Scotiabank offering a Mastercard credit card alongside deposit products. Comparable to Rogers Bank as a Canadian digital-first consumer financial products provider targeting a mass-affluent customer base.
• Neo Financial: Canadian FinTech offering a Mastercard credit card with cash-back rewards plus mobile-app banking. Comparable to Rogers Bank as a digital-native Canadian financial provider competing for digitally engaged consumer cardholders.

Broad incumbents

• TD Bank Group: One of Canada's largest banks with a deep premium credit-card lineup (TD First Class Travel, Aeroplan co-brands). Comparable as a major federally regulated Canadian credit-card issuer with broad consumer reach.
• CIBC: Canadian chartered bank with premium card offerings (CIBC Aventura, Dividend cards). Comparable to Rogers Bank as a federally regulated Canadian bank with a consumer credit-card franchise.
• Scotiabank: Major Canadian bank with premium card products (Scotiabank Gold/Platinum/Passport) and the Tangerine digital-bank subsidiary. Comparable as a large federally regulated bank with a strong consumer credit-card franchise.
• BMO Bank of Montreal: Canadian bank with premium cash-back and travel cards (BMO Ascend, eclipse Visa Infinite). Comparable as a major federally regulated Canadian bank competing for premium-card spending.
• RBC: Royal Bank of Canada is the country's largest bank and a leading issuer of premium cards (Avion, ION+, WestJet co-brand). Comparable as a large diversified Canadian financial institution with a meaningful credit-card franchise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/rogers-bank

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rogers Bank