TORONTO – Bell Mobility and RBC Mobile clients may now pay for small purchases using the new RBC Wallet.
The companies said Wednesday that the RBC Wallet is available now to RBC clients with near field communication (NFC)-enabled a Samsung Galaxy S III or Samsung Galaxy S4 operating on the Bell network, and who 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. Client payment information, including card details, is stored virtually within RBC Secure Cloud and not on the phone, and RBC said that it is the first Canadian financial institution to provide clients with the choice of using debit or credit for their mobile payments
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"Canada's largest bank and Canada's largest communications company have partnered to make your everyday purchases easier and more convenient with your smartphone," said Wade Oosterman, president of Bell Mobility and Residential Services, and chief brand officer at Bell, in the announcement.
"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”, added said Dave McKay, group head, personal and commercial banking, at RBC. “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 will be adding MasterCard and be available on more devices in the spring of 2014.
