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RBC Wallet now available: First mobile solution to provide Canadians with the choice of debit or credit

RBC engaging consumers and merchants in shaping the future of mobile commerce in Canada

Mobile Commerce is gaining momentum worldwide. Find out where Canada and RBC stand.

TORONTO, January 22, 2014 - The RBC Wallet, powered by RBC Secure Cloud (opens new window), is now available, enabling RBC Mobile clients to purchase goods and services with their RBC Interac Debit or Visa credit cards using their Bell Mobility Android smartphone. RBC is the first Canadian financial institution to provide clients with the choice of using debit or credit for their mobile payments.

"We are excited to bring the RBC Wallet to RBC and Bell Mobility clients," said Dave McKay, group head, Personal & Commercial Banking, RBC. "Our vision is for the RBC Wallet to work on all phones, with all carriers, and include value-added services and solutions - all safely secured in RBC Secure Cloud. As technology is rapidly changing, we chose a phased approach, enabling us to bring this exciting new technology to a portion of our clients right now, with many enhancements to follow."

The RBC Wallet powered by RBC Secure Cloud is currently available to RBC clients who have a Samsung Galaxy S III or Samsung Galaxy S4, some of the most widely adopted Near Field Communication (NFC) enabled smartphones, operating on the Bell network, and have an upgraded NFC-enabled SIM card. Using NFC technology, the RBC Wallet enables consumers to pay for small purchases using their phones at merchant locations that accept contactless payments, similar to Interac Flash or Visa PayWave.

"Canada's largest bank and Canada's largest communications company have partnered to make your everyday purchases easier and more convenient with your smartphone," said Wade Oosterman, president of Bell Mobility and Residential Services, and chief brand officer at Bell. "Bell is proud to partner with RBC to enable payments using the country's largest 4G mobile network and the latest smartphones, delivering the benefits of mobile commerce to Canadians everywhere."

Late last year, RBC engaged a cross-section of customers, merchants, network operators, acquirers and RBC employees in an extensive road test. The participants were provided a smartphone and access to services - real and future - and their feedback has helped shape today's offering and will shape future capabilities of the RBC Wallet. "We will not bring anything to market until we are confident that we have the very best solution, which meets the needs of our customers, merchants and all other partners," added McKay.

The RBC Wallet offers added security and protection as client payment information, including card details, is stored virtually within RBC Secure Cloud and not on the phone. Furthermore, payments made with the RBC Wallet are protected by the RBC Online Banking Security Guarantee (opens new window). To download, visit the App Store, text "RBC" to 722722 or visit www.rbc.com/securecloud (opens new window). The RBC Wallet will be adding MasterCard and be available on more devices in the spring of 2014.

In continuing to engage and further RBC's mobile commerce solution, on January 20, 2014, RBC held its first Emerging Payments Merchant Forum with more than 50 merchant participants in attendance, representing 34 leading Canadian retailers, including the national merchants who participated in the road test. This unique and innovative event explored the ever-changing mobile landscape and provided key industry leaders with an exclusive look at RBC's mobile vision, as well as value-added services and solutions that will benefit customers, credit and debit networks, financial institutions and merchants.

About Bell
Bell is Canada's largest communications company, providing consumers and business customers with wireless, TV, Internet, home phone and business communications services. Bell Media is Canada's premier multimedia company with leading assets in television, radio and digital media. Bell is wholly owned by Montréal's BCE Inc. (TSX, NYSE: BCE). For more information, please visit Bell.ca (opens external website in new window).

The Bell Let's Talk mental health initiative is a national charitable program that promotes Canadian mental health across Canada with the Bell Let's Talk Day anti-stigma campaign and significant funding for community care, research and workplace best practices. To learn more, please visit Bell.ca/LetsTalk (opens external website in new window).

About RBC and Payment Innovation
RBC is at the forefront of payment innovation in the Canadian marketplace. We provide industry-leading mobile banking flexibility and convenience to clients through our RBC Mobile app and RBC Canada app (opens new window) - available for Android, BlackBerry, iPhone, iPod Touch, iPad and Windows 8 - backed by our RBC Online Banking Security Guarantee (opens new window). Further information about RBC mobile solutions is available at www.rbcroyalbank.com/mobile (opens new window). More information about the RBC Wallet is available at www.rbc.com/securecloud (opens new window).

About RBC
Royal Bank of Canada (RY on TSX and NYSE) is Canada's largest bank and one of 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, investor services and capital markets products and services on a global basis. We employ approximately 79,000 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.

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For further information, please contact:

Suzanne Willers, RBC Communications, 416-974-2727
Kate Yurincich, RBC Communications, 416-974-1031
Jason Laszlo, Bell Media Relations, 1-855-614-6602