Rogers enters mobile wallet race + MORE Nov 7th

Rogers Communications Inc. said Thursday that it will offer a mobile wallet option on select Android and BlackBerry devices in the coming weeks. The feature will allow users to pay for everyday items with credit simply by tapping their phone against a contactless payment terminal installed at various big retailers across the country.
Rogers customers with compatible devices will be able to download the suretap wallet and add a  virtual Rogers Prepaid MasterCard that can be loaded with funds to use at retailers across Canada. Gift cards for select national retailers will also be available.
“The arrival of our mobile wallet is a major step towards our vision of a mobile experience, where Canadians will quickly and securely access cards they carry in their physical wallet on their smartphone,” said David Robinson, Vice President of Emerging Business at Rogers, in a press release.
The mobile wallet leverages near-field communication (NFC) technology and stores payment card information and passcodes on the secure SIM card…

TORONTO – Canadian Tire Corp. (TSX:CTC) saw its profit climb more than 10 per cent to $145.5 million in the third quarter, due to strong earnings across its retail and financial sectors.
The national retailer says this amounted to $1.79 per diluted share, compared with earnings of $131.4 million, or $1.61 per diluted share, in the same period a year ago. Revenues for the quarter were $2.956 billion, up from $2.829 billion year-over-year.
It says sales increased across all its banners, including Canadian Tire; Mark’s Work Wearhouse; FGL Sports; along with gas sales. It also saw more people buying from its automotive, seasonal and kitchen categories and a strong performance from its Sport Check brand.
Canadian Tire says earnings before income taxes from its financial services sector jumped to $80 million in the third quarter, compared with $73.7 million from a year ago, as it saw more growth in its credit card area.
The Toronto-based chain also announced that it will be increasing its annual dividend by 25 per cent, to $1…

Trusting your partner with money is integral to a healthy relationship. It’s also a sentiment held by most Canadians, according to a survey released by the Chartered Professional Accountants of Canada (CPA Canada), which found an overwhelming majority (96 per cent) of respondents are comfortable chatting about finances with their partner.
Further to that, 92 per cent say they trust the financial finesse and decisions made by their lover.
Money Talks Should Be An Open Conversation
When it comes to deciding money matters, most Canadians turn to their partner or spouse for insight.
“It was very encouraging to discover that more than 80 per cent of the respondents discuss household finances regularly with their spouse or partner,” says Nicholas Cheung, a director with CPA. “Open lines of communication are important to make sure that couples are on the same page when it comes to money management.”
Of those surveyed, 94 per cent agreed speaking openly about money is key to a strong relationship…

By now It is common knowledge that Canadians love their travel reward programs.  But with more than 75 travel reward credit cards to choice from, knowing which ones score top marks among Canadians might make picking the right card a littler easier.From September to October 2013, RewardsCanada.ca polled more than 17,000 users to find the answers as part of its third annual ‘Canada Choice’ travel reward credit card study.The results were stunning. Of the five travel reward categories, RBC claimed top marks in three including: Travel Points (with no annual fee): RBC Rewards Visa Gold CardHybrid: RBC Visa Infinite AvionAirline: WestJet RBC World Elite MasterCardOther Winners includedTravel Points (with annual fee): American Express Air Miles Platinum Credit CardHotel: The Starwood Preferred Guest Credit Card from American ExpressTo view all the results of ‘Canada’s Choice’ visit www.rewardscanada.ca/canadaschoice”There have been significant changes to the Canadian Travel Reward Credit Card landscape and these survey results come at a time when people are looking for guidance on choosing the right card,” said Patrick Sojka of RewardsCanada…

FRANKFURT – The European Central Bank on Thursday cuts its main interest rate by a quarter point to 0.25 per cent, a record low, to help the economic recovery.
The ECB is the issuer of the euro currency and serves as the top monetary authority for the eurozone and its 331 million people. The bank and its president, Mario Draghi, have played a key role in fighting the government debt crisis afflicting the 17 European Union member countries that use the euro.
Some of the key steps the ECB has taken:
LOWER INTEREST RATES: The ECB has cut its key interest rate five times since Draghi become president. Before Thursday’s cut, it last reduced rates in May. It also then cut the rate it pays banks for deposits to zero — a push for them to lend rather than hoard money.
The refinancing rate is what the bank charges on the credit it offers to eurozone banks and thereby influences interest rates on the loans banks provide to each other, businesses and consumers. Theoretically, a lower rate makes it cheaper to borrow money and expand a business…