RBC announces RBC Secure Cloud: The first cloud-based mobile payments solution in Canada

RBC announces RBC Secure Cloud: The first cloud-based mobile payments solution 
in Canada 
Protects client security and speeds transaction times 
TORONTO, July 18, 2013 /CNW/ - RBC today announced its RBC Secure Cloud mobile 
payments service (patent-pending). This new technology, a first in Canada, 
will allow clients to more safely and securely pay for purchases using their 
mobile devices. Keeping sensitive client data secure with RBC in the cloud, 
not on the phone, makes RBC Secure Cloud a safer, faster, more flexible 
solution. RBC will bring RBC Secure Cloud to market by the end of the year 
with debit and credit on a number of smartphone platforms. 
"We have designed a mobile payment solution that offers a better client 
experience and increased security than has been previously available, while 
meeting industry standards," said Linda Mantia, executive vice-president, 
Cards and Payment Solutions, RBC. "The result is a solution that offers 
benefits and options to everyone in the payment ecosystem." 
With RBC Secure Cloud, the financial institution assumes the security burden, 
since sensitive client data remains with the bank, as opposed to keeping it on 
the phone, as is the case with other models. The data is transmitted encrypted 
and decoded locally on the client's mobile device at point of sale through 
partnerships with mobile service providers. While the solution thoroughly 
protects client financial data by leaving it at its source, clients are also 
protected by the existing Zero Liability Policy for Interac, Visa and 
"We understand the importance of security to our clients and make safeguarding 
their personal information our highest priority," said Paul Gerics, 
vice-president, Information Security at RBC. "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." 
Initially focused on Near Field Communication (NFC), the RBC solution is 
flexible and can support new technologies such as bar or QR codes, or other 
standards, and allows offline transactions. Other benefits for the client 

    --  simpler and faster provisioning of account information
    --  seamless card lifecycle management including card replacement
        for lost, stolen and expired cards as well as setting
    --  an "open wallet" architecture (meaning the ability to support
        non-RBC payment methods and inter-bank access to payment
        information in future)

"This is a critical advancement for mobile payments in Canada," said Mark 
O'Connell, President and CEO, Interac Association and Acxsys Corporation. "We 
are excited about RBC's announcement and our participation in the evolution of 
mobile payments."

RBC Mobile Commerce Fast Facts:
    --  RBC currently has the largest digital channel engagement with
        several million online users and mobile downloads.
    --  RBC has received the Forrester Award for Best in Class Services
        in Online for six consecutive years and Mobile Banking in its
        inaugural year.
    --  Specifically in mobile, RBC clients will transact over 350
        million times this year alone.
    --  In March 2013, RBC participated in the country's first mobile
        debit transaction with Interac.
    --  In May 2013, RBC announced the launch of its mobile solution on
        Bell later this year.

About RBC and Payments Innovation
RBC is at the forefront of payments innovation to the Canadian marketplace. We 
provide industry-leading mobile banking flexibility and convenience to clients 
through RBC Mobile Apps - available for Android, BlackBerry, iPhone, iPod 
Touch and iPad and Microsoft - backed by our RBC Online Banking Security 
Guarantee. Further information about RBC mobile solutions is available at 

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 are 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, and 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 44 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, including donations and community 
investments of more than $64 million and $31 million in sponsorships.

Suzanne Willers, RBC, 416 974-2727,suzanne.willers@rbc.com Kate Yurincich, 
RBC, 416 974-1031,kate.yurincich@rbc.com


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CO: Interac
ST: Ontario

-0- Jul/18/2013 09:00 GMT

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