RBC Waves in a New Era of Contactless Payments

    New Visa payWave Will be a Boon to Busy People on the Go

    TORONTO, Sept. 17 /CNW/ - RBC is introducing Visa payWave(TM) a new
contactless payment feature that will give busy consumers a fast and
convenient way to pay for small purchases. RBC customers will begin receiving
the Visa payWave feature on their RBC credit cards during the chip market
trial starting next month in Kitchener-Waterloo.
    "As the first Canadian FI to offer nationally a credit card with chip
technology we're pleased to be at the forefront of another new technology,"
said Anne Koski, head, Payments Innovation. "Visa payWave will make getting
through checkout lines much quicker while providing the extra layer of
security of a chip."
    A Visa payWave transaction is faster than paying with cash and is
designed for busy merchant environments such as fast food restaurants, coffee
shops, concession stands, and drive-throughs. For purchases typically under
$25.00 at participating merchants, an RBC Visa payWave holder simply waves his
or her credit card near a Visa payWave reader. Transactions made with a RBC
Visa chip card using the contactless feature will not require a signature or
PIN to complete the transaction.
    Unlike other contactless payment options currently available in the
marketplace, RBC's contactless feature will be easy, and not require a
separate card or key fob. The Visa payWave feature will be part of RBC's chip
credit card that can be used for traditional credit card payments as well as
contactless payments.
    RBC is the leading issuer of chip cards in Canada, processing over
10 million chip transactions worldwide.

For further information:

For further information: Media Contact: Judi Levita, (416) 974-8810

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