Launching a co-branded credit card program may not be a big deal in the U.S., but in Canada it’s a bit different especially when a non-bank – Toronto-based telecommunications company Rogers Communications – is involved, according to Sean Collins, Managing Member of Wellesley, MA-based Partner Advisors.

Rogers Communications recently cleared the final regulatory hurdle on its path to entering the financial services business and plans to start offering credit card services in conjunction with its new loyalty....