The new feature, simply called Wallet, allows users to pay for items at Target stores by scanning their phones at checkout. Wallet uses a barcode scanned at check out that includes payment and applicable coupons.
According to Target, Wallet enables shoppers to checkout four times faster than "other payment types", a nice kick to the shin to traditional payment methods like chip-and-PIN cards.
Target Lets You Pay With New 'Wallet' Mobile Payment System
Wallet also allows Target to keep tabs on consumer data it would not have if folks were to use something like Apple Pay or Samsung Pay.
Shoppers can also link Target's "REDcard" to the mobile wallet, as either a debit card that links to a customer's bank account or as a credit card, offering 5% cash back on purchases. With only a few weeks left in the year, the retailer officially launched Wallet - available in the Target app for iOS and Android. Target is in the midst of a major project to combine the Cartwheel app with the main Target mobile app. According to the retailer, the feature will eventually roll-out to non-REDcard holders, but gave no timeframe as to when that might be.More news: Russia's service sector revving up as business activity accelerates
It appears that Target is still not keen on accepting Apple Pay as a mode of payment in its onsite stores. "Guests are going to love the convenience of having payment, Cartwheel offers, Weekly Ad coupons and GiftCards all in one place with Wallet".
Target, like Walmart, probably has a sufficiently broad and loyal customer base to make the provision of a standalone mobile payment platform viable. However, Walmart allows customers to make payments on Apple and Android devices with nearly all major credit, debit, and pre-paid cards or Walmart gift cards.More news: Lamborghini aims to release hybrid super cars
The rollout of Wallet isn't the first of its kind for retailers - Walmart launched Walmart Pay in 2015 and is now available in all of its stores nationwide.More news: These Are The Finalists For The 2017 Heisman Trophy