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Royal Bank of Canada is NYCE's 1st cross-border debit customer

October 10, 2004

Buffalo (N.Y.) Business First: The Royal Bank of Canada is Canada's first major financial institution to offer customers the ability to use their debit cards for point-of-sale purchases while on U.S. shopping trips. The new service is a result of an alliance between NYCE Corp. and Canada's Acxsys Corp. U.S. retailers will gain on-line, real-time access to funds on deposit in Canada -- through NYCE's PIN point-of-sale network. Receipts for RBC Royal Bank customers will show their purchases in American dollars; the amount debited will be in Canadian dollars. Other Canadian institutions Scotiabank, TD Canada Trust, National Bank of Canada and Desjardins Group will roll out similar debit card programs in coming weeks, according to NYCE.

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Read related story from our archives: NYCE expands into Canadian ATM, debit markets