The Royal Bank of Canada (RBC), the largest bank in Canada, has become the first bank in North America to go live with host card emulation-enabled (HCE) payments. HCE allows customers to use any near field communication-enabled (NFC) Android phone to pay at a point-of-sale with the RBC Mobile app anywhere in the world.
The bank launched the pilot in December 2014, where the new solution was available to a group of RBC employees, allowing them to pay with their RBC Interac Debit Card, leveraging the Interac Flash contactless functionality.
The support for host card emulation technology is growing by leaps and bounds. From the time it was introduced in the KitKat version of Android, HCE support in smartphones has been growing at a steep curve.
Banks and merchants have collectively spent billions of dollars powering mobile apps to provide the best mobile services to consumers. They see their apps as the preferred low-cost, high-touch channels of interaction that can deliver rich services through mobile devices. With HCE, they can enable their existing banking and merchant apps to become wallets for payments anywhere in the physical environment while allowing them to maintain total control over the brand and user experience. To name a few, major Banks such as ANZ Bank, Commonwealth Bank, Fibank, Getin Bank, Banco Sabadell are implementing this technology.
About RBC and payments innovation:
RBC is at the forefront of payments innovation. It provides industry-leading mobile banking flexibility and convenience to clients through its RBC Mobile app and RBC Canada app—available for Android, BlackBerry, iPhone, iPod Touch, iPad and Windows 8—backed by its RBC Online Banking Security Guarantee. More information about the RBC Wallet is available here.
The Royal Bank of Canada is Canada’s largest bank, and one of the largest banks in the world, based on market capitalization. It is one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. For more information, click here.