RBC has announced the RBC Secure Cloud mobile payments service that will allow clients to more securely pay for purchases using their mobile devices.
Keeping sensitive client data in the cloud, not on the phone, makes RBC Secure Cloud a safer, faster, more flexible solution, the bank says. It plans to bring RBC Secure Cloud to market by the end of the year with debit and credit on a number of smartphone platforms.
RBC assumes the security burden since sensitive client data remains with the bank, as opposed to keeping it on the phone. The data is transmitted encrypted and decoded locally on the client’s mobile device at point-of-sale machines. ◊