NFC Times Exclusive Insight – It looked like a promising compromise at the time, when Royal Bank of Canada launched RBC Secure Cloud in January of 2014–a hybrid approach to NFC payments that combined cloud with SIMs, storing a small applet on SIM cards.
But now RBC says it is done with SIMs, having launched pure cloud-based payments with HCE six weeks ago, which it says has already resulted in a tripling of users.
“We’ve completely removed the friction from the provisioning (of applications),” Jeremy Bornstein, head of payments innovation at RBC told NFC Times.