RBC launches Virtual Visa Debit

Online, phone and mail order purchases directly from the bank account

Royal Bank of Canada (RBC), in collaboration with Visa, is rolling out RBC Virtual Visa Debit, a service that enables consumers to make online (including regular and recurring bill payments), phone and mail order purchases directly from their bank account (view press release). The new service provides account holders an additional payment option for debit functionality when shopping online, by phone or mail order, and comes as a result of increasing e-commerce engagement in Canada.

RBC deposit account holders will receive a reference card providing the information required to use the service such as Visa Debit number, expiry date and three-digit security code. The service is for virtual transactions only and cannot be used at physical retail stores, ATMs or financial institutions. There are no annual fees to use the service and Virtual Visa Debit transactions do not count toward monthly debit transaction limits, if applicable. All payments are processed over Visa’s network and protected by Visa’s layers of security.

Virtual Visa Debit allow our clients, including those who prefer to use debit or those who do not have access to a credit card, to shop securely at thousands of online merchants across the country and internationally,” said RBC head of payments and banking services Doug Collins. “We are continuing to enhance our clients’ payment experience, by giving clients more options for virtual purchases.”

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