RBC provides choice of using debit or credit for their purchase goods and services by RBC Wallet

31st January 2014 | By Mouseworld Now Correspondent |

New Delhi, India, January 31, 2014: The RBC Wallet, powered by RBC Secure Cloud, is now available, enabling RBC Mobile clients to purchase goods and services with their RBC Interac Debit or Visa credit cards using their Bell Mobility Android smartphone. RBC is the first Canadian financial institution to provide clients with the choice of using debit or credit for their mobile payments.

Dave McKay, group head, Personal & Commercial Banking, RBC, said, “We are excited to bring the RBC Wallet to RBC and Bell Mobility clients. Our vision is for the RBC Wallet to work on all phones, with all carriers, and include value-added services and solutions – all safely secured in RBC Secure Cloud. As technology is rapidly changing, we chose a phased approach, enabling us to bring this exciting new technology to a portion of our clients right now, with many enhancements to follow.”

The RBC Wallet powered by RBC Secure Cloud is currently available to RBC clients who have a Samsung Galaxy S III or Samsung Galaxy S4, some of the most widely adopted Near Field Communication (NFC) enabled smartphones, operating on the Bell network, and have an upgraded NFC-enabled SIM card. Using NFC technology, the RBC Wallet enables consumers to pay for small purchases using their phones at merchant locations that accept contactless payments, similar to Interac Flash or Visa PayWave.

Wade Oosterman, president of Bell Mobility and Residential Services, and chief brand officer at Bell, said, “Canada’s largest bank and Canada’s largest communications company have partnered to make your everyday purchases easier and more convenient with your smartphone. Bell is proud to partner with RBC to enable payments using the country’s largest 4G mobile network and the latest smartphones, delivering the benefits of mobile commerce to Canadians everywhere.”

Late last year, RBC engaged a cross-section of customers, merchants, network operators, acquirers and RBC employees in an extensive road test. The participants were provided a smartphone and access to services – real and future – and their feedback has helped shape today’s offering and will shape future capabilities of the RBC Wallet. “We will not bring anything to market until we are confident that we have the very best solution, which meets the needs of our customers, merchants and all other partners,” added McKay.

The RBC Wallet offers added security and protection as client payment information, including card details, is stored virtually within RBC Secure Cloud and not on the phone. Furthermore, payments made with the RBC Wallet are protected by the RBC Online Banking Security Guarantee. To download, visit the App Store, text “RBC” to 722722 or visit www.rbc.com/securecloud. The RBC Wallet will be adding MasterCard and be available on more devices in the spring of 2014.

In continuing to engage and further RBC’s mobile commerce solution, on January 20, 2014, RBC held its first Emerging Payments Merchant Forum with more than 50 merchant participants in attendance, representing 34 leading Canadian retailers, including the national merchants who participated in the road test. This unique and innovative event explored the ever-changing mobile landscape and provided key industry leaders with an exclusive look at RBC’s mobile vision, as well as value-added services and solutions that will benefit customers, credit and debit networks, financial institutions and merchants.


© Mouseworld Now News Service

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