Electronics

Target Introduces Wallet Payment Function

Target Introduces Wallet Payment Function

In other words, Target is not the only retailer to have its own mobile payment system, but the retailer can now reap the benefits of having its own system.

The new feature, simply called Wallet, allows users to pay for items at Target stores by scanning their phones at checkout.

The dedicated card acts as both a debit card and store credit card, offering 5% cashback on purchases and speedier checkout than a standard chip and Pin card.

Target announced a number of new mobile app features back in September, and said this one was on the way.

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You can find out more details about the Target app and also the new Wallet feature over at Target at the link below.

The solution is "four times faster than other payment types", according to Target, though that refers to other payment types available in Target since the retailer has been a holdout against comparably fast NFC payments from Apple Pay and Android Pay, a reluctance that dates to Target's membership in the now defunct MCX, a merchant-led mobile payment consortium. This is achieved because customers can now check out for payment as well as apply Cartwheel deals with a single scan of the in-app barcode. Wallet uses a barcode scanned at check out that includes payment and applicable coupons.

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. Talks about Target launching its own mobile payment have been around since 2015, but the company waited till January 2017 to confirm its plans. Wallet is now restricted to Target's REDcard credit card and debit card.

Target said the ability to redeem Target gift cards with Wallet is coming soon.