Royal Bank of Canada, Canada's largest lender by assets, is collaborating with WestJet Airlines Ltd. of Calgary to introduce its first Canadian MasterCard Inc. credit card.
WestJet, Canada's No. 2 airline, said Wednesday that it is offering a travel rewards credit card with Royal Bank.
The card will be issued this year, the company said.
It will be the first Canadian MasterCard offered by Royal Bank, which issues Visa Inc. credit cards.
Canadian lenders have been able to offer Visa and MasterCard cards since November, when the country's competition bureau changed the rules to allow financial services firms to issue both brands. Canadian banks previously had to select one brand, under restrictions that were unique to Canada.