Taking a page from its competitors Walmart and Kohl’s, Target will introduce a mobile payment app this year, according to Reuters. The mobile payment space is already highly competitive, with both individual retailers and power players Google, Apple and Samsung all vying for consumer and retailer acceptance.
Earlier in the decade, all three retailers had supported the Merchant Customer Exchange’s now-defunct CurrentC payment app, but they have since gone their own ways.
Target didn’t provide details on a projected launch date or specifics about how the app would work, but CIO and Chief Digital Officer Michael McNamara told Recode that it would make sense for Target to provide shoppers with a means to both pay and use digital coupons in a single step.
The payment service will initially be available only to holders of Target REDcards, the retailer’s private label credit and debit cards that provide 5% off purchases and free shipping for online orders.