Target working on its own mobile payment system, report says

Initial reports are saying that Target is looking at developing its own mobile payment system similar to that of Android Pay and Samsung Pay. More and more companies are wanting to take tap into the success of these payment systems, with LG and JPMorgan Chase looking at making their own individual mobile payments systems as well.

The report from Reuters says:

“The fourth-largest U.S. retailer has not committed to launch the product, which would allow customers to pay for goods using an app on their mobile phones. The mobile wallet could launch as early as next year, but it is too early to predict, two of the sources said.”

Walmart recently launched its own mobile payment system, which could be encouraging Target to offer their own in order to stay competitive. There’s no telling how Target’s mobile payment system will work at this point, but there’ll no doubt be integration with the retailer’s Red credit and debit cards.

While the Reuters report says Target could launch its mobile wallet app as early as next year, the publication cites sources saying that it hasn’t been tested at any retail locations yet.

source: Reuters

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