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Royal Bank of Canada Launching Mobile Payments System

As mobile commerce continues to grow worldwide, Royal Bank of Canada (NYSE: RY  ) this week announced its customers will be able to securely purchase goods and services with debit or credit using smartphones compatible with Bell Canada's (NYSE: BCE  ) wireless network as part of a new mobile payment system the two are launching.

The companies aim for the network to be seamlessly integrated into RBC's existing mobile banking app together with its peer-to-peer technology allowing an RBC customer to send money to any person or business in Canada.

"This is the first piece of a broad RBC mobile commerce solution rolling out to clients this year, all delivering the great, robust user experience and the security that RBC is known for," Dave McKay, RBC  group head of personal and commercial banking, was quoted as saying.

Following testing that will occur over the summer, the companies plan for customers of both RBC and Bell Mobility to be able by year's end to pay for transactions with RBC debit or credit cards using the BlackBerry Z10, Q10, Bold 9900, Bold 9790, or Curve 9360, and a range of Android devices from manufacturers such as Samsung, Sony, HTC, LG and more.


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