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Target Begins Developing Own Mobile Payment System

December 22, 2015: 12:00 AM EST
Target Corp. is reportedly developing its own mobile wallet technology. Designed to let shoppers pay for goods using an app on their mobile phones, the planned platform will allow the retailer to compete with rival mobile payment systems, such as the Apple Pay. Target decided to partner with credit card companies and plans to adopt scanning technology to communicate with payment terminals to process transactions.
Nandita Bose, "Exclusive: Target in initial development of own mobile wallet – sources", Reuters, December 22, 2015, © Thomson Reuters
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