NFC Times Exclusive: RBC Secure Cloud Explained:
As one of the first commercial launches of cloud-based open-loop payments using NFC, observers will be watching closely how well Royal Bank of Canada’s RBC Secure Cloud service does in the market.
Canada’s largest bank launched the service two weeks ago, enabling customers to load their RBC-issued Visa credit cards and Interac debit cards into its RBC Wallet.
The service is anchored to NFC SIM cards running in two high-profile Samsung NFC phones, the Galaxy S4 and earlier Galaxy S III. But unlike conventional NFC payments services that have launched in these and other NFC phones, RBC Secure Cloud puts the full payment applets on the bank’s servers, while loading only one small applet, along with tokens, on the SIM.