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Target Works to Jump on Mobile Wallet Bandwagon

Target is developing a mobile pay option of its own, following the lead of Walmart and several other major companies, Reuters reports.

Target’s mobile wallet would most likely use barcode scanning technology, which customers could use at checkout terminals, Reuters says. This is the same type of technology Walmart and Starbucks use in their respective wallets, according to Fortune.

If Target launches the in-store mobile wallet, it will join the ranks of companies that are expected to handle $142 billion in mobile pay transactions by 2019, the Fortune article says. Target has not tested the mobile payment option in stores yet, Reuters says.

Retailers that offer their own mobile wallets challenge competitors like Apple Pay and Android Pay.

Target and Walmart are also working with a mobile wallet several retailers have come together to support, called CurrentC, which Merchant Customer Exchange (MCX) is developing, the Reuters article says.

Fortune reached out to Target on the subject, and the retailer responded with the following statement: “Target is committed to MCX, and is excited to be part of the CurrentC pilot in Columbus, Ohio. [The company] continues to explore additional mobile wallet solutions, including Apple Pay, and will ultimately work to provide the best and most sought-after mobile wallet experiences for [its] guests.”

About Renee Changnon

Renee Changnon is the retail outreach coordinator for NRHA. She meets with retailers in their stores and at industry events and introduces them to the services NRHA provides. Renee previously worked as a member of the NRHA communications team. She earned a degree in visual journalism from Illinois State University, where she served as the features editor for the school newspaper. After college, she implemented marketing and promotions initiatives at Jimmy John’s franchise locations across the country. She enjoys exploring books with her book club, Netflix marathons and hosting goat yoga at her apartment complex. Renee Changnon 317-275-9442 rchangnon@nrha.org

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