Mobile payments test to begin by RBC and MasterCard with heartbeat security

Bionym nymi wearable technology mobile payments heartbeat

These giants are trying out identity verification through the use of Bionym wearable technology. The Royal Bank of Canada and MasterCard Inc. are working together with a Canadian startup called Bionym, which has created a wearable technology device called Nymi, and that will now be used in a pilot program to add security to the mobile payments service. The Nymi wearables are a wristband designed to verify the user’s identity through his or her heartbeat. The goal is to be able to use an individual’s cardiac rhythm instead of passwords,…

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NFC technology has lost its charm for RBC

Royal bank of Canada (RBC) mobile commerce platform

The Canadian bank is already looking to introduce cloud based transactions within the country. Though RBC and CIBC – two of the major Canadian banks – have already rolled out mobile payments services based on NFC technology, it seems that this trend may not have caught on fast enough for Royal Bank’s taste. Though the tech has barely had the opportunity to get off the ground, the bank is already moving on to something else. RBC has made an announcement that suggests that NFC technology may already be on its…

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