Minneapolis-based big box retailer Target Corp. is rumored to be developing a proprietary mobile wallet, enabling its customers to make purchases at the store using their mobile phones. The report surfaced less than two weeks after Walmart announced its proprietary mobile payment service, Walmart Pay, which has been introduced to some stores with a nationwide rollout expected to be complete by mid-2016.
Target’s m-wallet, which hasn’t been tested in stores yet, could be launched as early as next year, reports Reuters, citing unnamed sources. The retailer’s m-wallet likely will incorporate scanning a code at the POS, sources said. The process would be similar to Walmart Pay and CurrentC, which use a QR code at the register that customers scan with their phones during the checkout process.
“We do not comment on rumors or speculation, and don’t have information to share on our future plans at this time,” Eddie Baeb, Target spokesperson, tells Pay News. “We continue to explore additional mobile wallet solutions, such as Apple Pay, and will ultimately work to provide the best and most sought-after mobile wallet experiences for our guests.”
Baeb added that Target remains committed to Merchant Customer Exchange (MCX) and remains part of the CurrentC mobile payments pilot in Columbus, Ohio. MCX was founded in 2012 as a consortium of merchants and Target was one of the group’s earliest members, along with Walmart and Best Buy.
- Target Aims for Bullseye with Beacons
- Target Reaches $39.4 Million Breach Settlement with Banks, MasterCard
- Money20/20: Chase Pay on the Way, Secures MCX Partnership