RBC is now in the mobile commerce game, having just launched its RBC Wallet in partnership with Bell Mobility.
The mobile wallet, which the companies began testing in May, allows RBC and Bell customers to make debit or Visa credit card purchases with their smartphones. The service is currently only available to Bell clients who have a Samsung Galaxy III or Samsung Galaxy 4. But RBC wants the product to eventually work on all phones, with all wireless carriers and with enhancements such as loyalty programs.
RBC Wallet plans to add MasterCard in the spring of 2014, according to the company.
“We see the health of [mobile payments] as really driven by the value-add applications,” said Linda Mantia, executive vice-president, cards and payment solutions at RBC. “So what we announced today, I see as a foundational element… This will really take off as we add very customer-friendly applications that make customers’ lives easier and more rewarding.”
In the early phase, RBC will market the wallet with targeted messages to “early adopter” Bell customers with the right Android phones. “As we add more phones and more carriers, the approach will become more extensive,” said Mantia.
“I think our first round of customers will be people who are technology curious,” she said. “Where we begin to see it being a lot more relevant… is once we add loyalty and gift cards or receipts, that’s where it will become more mass.”
RBC Wallet is available as an update to the company’s mobile banking app. Small purchases (up to $50 in some cases and $100 in others) can be made at merchants equipped with a Visa PayWave or Interac Flash contactless point-of-sale terminal.
