RBC this week announced that it has been awarded a patent on its Secure Cloud payment and security technology by the United States Patent Office.
The patent covers use of secure tokens by our clients to facilitate payments from mobile devices.
“The patent on our Secure Cloud technology underscores our commitment to enhance the client experience by investing in technology and innovation,” said Linda Mantia , executive vice-president, Digital, Payments & Cards, RBC. “With Secure Cloud we knew that we needed to create a solution flexible to future technologies, while also providing our clients with the security they expect from RBC.”
Secure Cloud technology enables RBC clients, who want to use their mobile device for transactions, to pay with any card—from Visa and MasterCard to debit, gift and loyalty cards—using merchants’ existing contactless payment terminals.
“For us, innovation is about connecting what is possible to what is valuable to our clients,” added Mantia. “This patent, in conjunction with others now pending, will enable RBC to continue to provide that innovative client-centric experience across payment platforms, from mobile phones to wearables.”
With RBC Secure Cloud, sensitive client data remains with the bank, as opposed to it being on the phone. Substitute data is transmitted encrypted and decoded locally on the client’s mobile device at the point of sale, instead of the sensitive data itself.