He's right that things are changing quickly, but most likely the banks found a better alternative than Proxama. And that alternative is SureTap, developed by Rogers and spun off. Now partnered with almost all the Canadian telco's, CIBC and other banks are coming later this year. RBC is not the only one with mobile payments - TD, CIBC, Scotia and RBC all offer their own wallet as well! CIBC is well into the new payment methods with their mobile payment application and partnered with Timmys.