RBC Offering Client Cards with "Interac Flash" (Interac's version of Paypass/Paywave)

[Shawguy]

RBC sent a message in online banking this evening to advise the following

Going forward, we will be sending RBC Royal Bank® clients new RBC® Client Cards that will include an added feature - INTERAC Flash(+), while still keeping Chip and PIN technology.

The new INTERAC Flash enhancement increases the functionality of your chip Client Card by allowing you to pay for smaller purchases without having to insert your card or enter a PIN.(1) Simply flash your Client Card against the INTERAC Flash-enabled reader, wait for approval and you're on your way.

How INTERAC Flash works

- Contactless transaction limits will be set for up to $100 for gas, up to $100 for groceries and up to $50 for other purchases. Once you've spent $200 in contactless transactions with your Client Card, you'll be asked to enter your PIN during your next transaction to reset your spend limits.
- After you have activated your card by using it once by inserting the card and entering your PIN, simply flash your debit card against the INTERAC Flash-enabled reader and the purchase will automatically be debited from the account you normally access by the Chequing button.
- Your transactions will be itemized on your bank statements.
If a transaction is above the limit you've set, you'll be asked to insert the card and enter your PIN to make a regular chip debit transaction.
Security features

The technology built into INTERAC Flash-enabled cards provides you with one of the most secure contactless payment systems in the marketplace. When making a payment, your Client Card never leaves your hand, so you're always in control.
As with all INTERAC transactions, you continue to be protected against fraudulent transactions under the INTERAC Zero Liability policy.(*) This means you are not liable for fraudulent charges provided that you take reasonable precautions to protect your PIN and your Client Card, as set out in your RBC Royal Bank Client Card agreement.

Questions?

We hope you enjoy the speed and convenience that the new INTERAC Flash technology provides as more merchants continue to introduce the INTERAC Flash reader over the next while.

If you wish to deactivate the INTERAC Flash feature, you may visit your branch or call 1-800 769-2511.

For more information about your new Client Card or any of our banking services, please visit your branch, or visit

www.rbcroyalbank.com/flashchip.

Anyone actually looking forward to this? I know I don't want this

[PA0L0]

i wonder if its compatible with the pay pass? or uses totally new tech nology

[Shawguy]

Looks like you can opt out of having this feature active on your account - http://www.rbcroyalbank.com/debitchip/index.html#f2

[CtrOfUni]

Anyone actually looking forward to this? I know I don't want this

I am looking forward to it.

I like the convenience of pay pass on my chip & PIN credit card, and this is a very similar idea. I hope the approval response time is faster than the current response time on inserted chip transactions.

[Paulfistinyourface]

...I hope the approval response time is faster than the current response time on inserted chip transactions.

Yeah, that's the first thing I thought of. Similarly...If it speeds up the time it takes Grandma to punch in her PIN then I'm all for it.

(I'm not an RBC client...just an RBC Visa cardholder. I got the same message.)

Of course the paranoids will hate this, like they do for any new features/technology.

[coldpower27]

Yeah, I got the new card with this tech, sticking to my old one though for now until it doesn't work anymore..

[cadave]

I also just received this new RBC Interac Flash card and will be calling to disable the feature... just don't feel comfortable about having a NFC chip in my debit card when it's linked to my cold hard cash. I'm OK with the chip in credit cards because the credit card companies are assuming the risk.

[angel_wing0]

nice, cant wait for one! guess they are not available inside branches...nothing for me in rbc msg system yet thou orz

[coldpower27]

I also just received this new RBC Interac Flash card and will be calling to disable the feature... just don't feel comfortable about having a NFC chip in my debit card when it's linked to my cold hard cash. I'm OK with the chip in credit cards because the credit card companies are assuming the risk.

Pretty much how I feel, Mastercard Paypass and Visa PayWave will suffice.

[punisher101]

Couldn't care less. I don't use debit cards for merchant transactions.

[angel_wing0]

still waiting for mine, my mother got hers last week.

[Jucius Maximus]

Looks like you can opt out of having this feature active on your account - http://www.rbcroyalbank.com/debitchip/index.html#f2

Yes, I also heard about the opt-out option, and I'm glad it's present.

Frankly I think it is very irresponsible of the banks to attach a contact-payment with no PIN to a bank account. Even though you will have to re-verify after $75, I think it still makes fraud on a small scale too easy. The main problem is that even if they steal $10 out of your account, that could cause another cheque or payment to bounce, resulting in much bigger fees and problems. I will be disabling this feature as soon as I get a card with it.

I think this feature may due to banks losing out to PayPass on debit fees.

[KiplingDixon]

Not good @ all for security concern if its PIN-Less like PayPass. But if its Insert/Swipeless with PIN verification for point of sale its realy very cool

[angel_wing0]

Got mine last month, looks completely the same as the old card except for the flash symbol...

[y2jversion1]

'memba Dexit? LOL

Company went under but the technology making a huge comeback..