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STORY SUMMARY: TORONTO, November 1, 2007 - RBC and Visa Canada are
teaming up to be the first in Canada to pilot a mobile payment service that
uses cellphones rather than traditional credit cards for making Visa
purchases. This Ontario-based pilot is expected to be completed in 2008, and
involve multiple phases including in-lab testing, an RBC staff pilot and a
consumer trial. As part of the pilot, mobile devices will be embedded with
Near Field Communication (NFC) contactless chips that will enable users to
make purchases using the Visa payWave feature just as they would with a
contactless payment card.
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