RBC will soon be marketing a new cloud-based mobile payments service, which the banking giant said is the first of its kind in Canada.
The RBC Secure Cloud is intended to allow customers to pay for purchases using their mobile devices. While this in itself is nothing new, RBC said its solution is much safer than existing alternatives because customer data remains with the bank, not on users’ devices, as is the case with other devices.
“We understand the importance of security to our clients and make safeguarding their personal information our highest priority,” said Paul Gerics, RBC vice-president, Information Security.
“RBC Secure Cloud is being built with the highest security standards in mind. We employ a diverse range of technologies and security mechanisms to help ensure the safety, confidentiality and integrity of our client's information and transactions.”
The system transmits encrypted data and decodes it locally on users’ devices at the point of sale, allowing sales by debit or credit.
RBC expects to market the product by the end of the year.
