19 February 2018
visit www.nextgenbanking.co.uk/

RBC and Visa in m-payments pilot

01 November 2007  |  7956 views  |  0 mobile keypad

Canadian banking group RBC is teaming with Visa to launch a pilot of mobile payments technology that will allow customers to pay for purchases using handsets.

The Ontario-based pilot is expected to be completed in 2008 and involve multiple phases including in-lab testing, a RBC staff pilot and a consumer trial.

Participants will be provided with mobile phones embedded with near field communications (NFC) technology and featuring Visa's contactless payWave application. Users will able to make a contactless payment by waving the handset over a reader.

The functions to be tested in the pilot include secure delivery and storage of account information to the mobile device; m-payments at retailers; storing and redeeming mobile payment coupons; and mobile account management.

"Many of our clients would appreciate the convenience of making purchases through their mobile phones rather than fumbling for cash when trying to get through a busy checkout line. Mobile devices, much like electronic payments, have become a mainstay in people's lives, so combining the two securely makes a lot of sense," says Anne Koski, head of payments innovation at RBC's cards division.

The bank claims to be the first bank in Canada to road test the mobile payments technology.

RBC says its launch of mobile payments in Canada is closely aligned with the country's migration to chip card technology. The bank is currently participating in an industry chip trial taking place in the Kitchener-Waterloo. As part of this trial RBC is also providing customers with cards featuring the Visa payWave contactless payment feature.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Mobile payments to soar - research

Mobile payments to soar - research

31 October 2007  |  10479 views  |  0 comments
Chip and PIN trial kicks off in Canada

Chip and PIN trial kicks off in Canada

17 October 2007  |  7503 views  |  0 comments
Wells Fargo and Visa to conduct public mobile payments trial

Wells Fargo and Visa to conduct public mobile payments trial

27 June 2007  |  10761 views  |  0 comments
Visa chief - convergence of payments and mobile comms inevitable

Visa chief - convergence of payments and mobile comms inevitable

29 March 2007  |  8964 views  |  0 comments
Visa launches mobile payments platform

Visa launches mobile payments platform

08 January 2007  |  11259 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsVisit https://www.capgemini.comvisit http://info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10986 views comments | 16 tweets | 12 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8524 views comments | 15 tweets | 42 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8492 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8364 views 10 comments | 21 tweets | 26 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job