Skip Header Navigation

About RBC > Media Newsroom > News Releases > Increasing security of mobile payments for Canadians with RBC Wallet

Increasing security of mobile payments for Canadians with RBC Wallet

RBC unveils new app for RBC Wallet coming soon on Android during Google’s I/O Developer Conference

 

TORONTO, June 2, 2015 -  Consumers want mobile payments to be fast, easy and most important of all, secure. RBC understands this and has long been innovating in the secure payment space and has now increased security and accelerated sign in with its development of an app for the Android M Developer Preview, the next major release of its operating system. This new app will be part of the RBC Wallet and will deliver a superior and secure mobile experience for clients.

“As we further enhance RBC Wallet and our mobile solutions, the security and protection of our client’s personal data is paramount,” said Linda Mantia, executive vice-president, Digital, Payments and Cards, RBC. “This new feature heightens security while providing an exceptional client experience with a simpler and quicker process for authentication and payment.”

RBC introduced and demonstrated this new feature at the Google I/O, an annual developer conference held in San Francisco from May 28-29, 2015, featuring inspirational talks, hands-on learning and a chance to hear more about Google’s latest developer products.

Included in the Android M Developer Preview are new application programming interfaces (APIs) - a set of protocols for building software applications - for Fingerprint and Confirm Credential that enable the use of device credentials (e.g., device PIN, fingerprint) to identify and authenticate users in Android apps. RBC Wallet is taking advantage of these new features to accelerate payments and sign-in operations by utilizing the device credentials, which are hardware based and more secure, using Keyguard.

This new app within the RBC Wallet will provide clients with the following benefits:

  • Utilizes the same PIN that locks the phone to access RBC Wallet,
  • Eliminates having to remember multiple passwords,
  • Increases security as authentication is now tied to the device hardware,
  • Speeds up the payment process,
  • Employs a timeout security mechanism that does not require clients to re-enter their PIN to transact within that pre-set timeframe, and
  • Provides clients the choice to complement their PIN with their fingerprint to access RBC Wallet and make mobile payments.

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  backed by our RBC Online Banking Security Guarantee. Further information about RBC mobile solutions is available at www.rbcroyalbank.com/mobile. More information about the RBC Wallet is available at www.rbc.com/securecloud.

About RBC
Royal Bank of Canada 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, insurance, investor services and capital markets products and services on a global basis. We employ approximately 78,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 39 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 2014, we contributed more than $111 million to causes worldwide, including donations and community investments of more than $76 million and $35 million in sponsorships.

- 30 -

For further information, please contact:
Suzanne Willers, RBC Communications, 416-974-2727
Kate Yurincich, RBC Communications, 416-974-1031