The Royal Bank of Canada announced its plans to become the first major credit card issuer in the country to offer both Visa and MasterCard products, a move that is being watched closely by the bank's rivals and is also expected to be a boon for consumers.
Until recently, credit card issuers such as RBC were limited to offering only one major credit card to their customers. Most major banks in Canada, including RBC, have exclusive agreements with Visa, while BMO has a similar arrangement with MasterCard.
Source: Canada.com
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