TORONTO, February 5, 2013 - Target is pleased to announce that applications for its REDcard products - the Target Debit Card and the Target RBC MasterCard® - are now available online at Target.ca/redcard. Guests planning to shop at Target stores in Canada with a REDcard will receive an additional 5% off Target's already low prices, applied instantly at the time of purchase.
The Target Debit Card, a proprietary card issued by Target Canada, will link to the cardholder's existing chequing account and can be used only at Target stores in Canada. Royal Bank of Canada will issue the no-annual-fee Target RBC MasterCard, which can be used anywhere MasterCard is accepted. In addition to the instant 5% savings on almost everything at Target stores, Target RBC MasterCard cardholders will earn Target GiftCard Rewards® on purchases outside of Target, anywhere MasterCard is accepted.
"Target's REDcard Rewards program is a key part of our "Expect More. Pay Less." brand promise, offering guests an additional 5% savings on top of our already low prices," said Tony Fisher, president, Target Canada. "We know our guests value the instant savings that come with a REDcard and we want to ensure Canadian guests apply now so they are ready when their neighbourhood Target store opens its doors."
Applications for both cards are available online at Target.ca/redcard. In addition, guests can apply for the Target RBC MasterCard in RBC branches and at rbc.com/target. Once Target stores are open, Canadian guests will be able to apply for both REDcard products in-store. Target plans to open 124 stores across Canada beginning in March/April 2013.
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,782 stores across the United States and at Target.com. The company plans to open its first stores in Canada in 2013. Since 1946, Target has given 5 percent of its profit through community grants and programs; today, that giving equals more than $4 million a week. For more information about Target's commitment to corporate responsibility, visit Target.com/hereforgood.
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are Canada's largest bank as measured by assets and market capitalization, and among the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, investor services and wholesale banking on a global basis. We employ approximately 80,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 49 other countries. For more information, please visit rbc.com.
RBC supports a broad range of community initiatives through donations, sponsorships and employee volunteer activities. In 2012, we contributed more than $95 million to causes worldwide (more than $64 million in donations, and $31 million in sponsorships).
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities -such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news. For more information, visit MasterCard Canada's Facebook page or follow @MasterCardCa on Twitter.
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Lisa Gibson, Target Public Relations, (289) 261-1221
Target Media Hotline, (612) 696-3400
Ka Yan Ng, RBC Communications, (416) 974-1794