RBC, Bell Launch Secure Mobile Payments Solution
News: Canada-based bank Royal Bank of Canada (RBC) and telecoms operator Bell have announced the introduction of a secure mobile payments service for RBC mobile banking customers. The customers would be able to buy goods and services with the use of debit or credit cards through NFC-based technology on compatible Bell Mobility smartphones. Bell also stated that, in future, the operator would make NFC SIM cards accessible to all NFC-capable devices.
BMI View: The launch of a secure mobile payments service will help cater to the rising demand for advanced mobile services in Canada. BMI estimates that there will be 28.1mn mobile subscribers in 2013 and expects the total to rise 7.8% by 2017 to 30.3mn. During this period penetration will rise from 80.2% to 83.5%.