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 e stimates that there will be 28.1 mn mobile subscribers in 2013 and expects the to tal to rise 7.8% by 2017 to 30.3 mn. During this per iod penetration will rise from 80.2% to 83.5 %.