Most banks wait to see what new mobile wallet technology comes out, they test it, discuss it with regulators, and watch the pioneers to see how well it works in the real world before venturing forth. Notable exceptions include U.S. Bank and Barclaycard, which have explored mobile payment technologies like contactless chips.

Far ahead of the curve is Royal Bank of Canada, which over a year ago built its own mobile wallet technology (with partners) that it's adapted to work with Apple Pay, Android alternatives and the card networks' host card emulation. It has a patent pending on its RBC Secure Cloud technology.

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