Target Mobile Wallet Could Launch Next Year

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Target could be launching a Mobile Wallet next year.

TargetThe company announced it could be launching its own electronic wallet to rival the likes of Apple Pay, Android Pay and Samsung Pay, set to be released during the first half of 2016.

Target Mobile Wallet will exists as a smartphone application, allowing to make a payment with your device, which will be linked to your bank account and/or credit card.

Target is also a member of MCX, a retailer-backed consortium that is developing CurrentC, a mobile wallet. The has yet to launch but it doesn’t allow direct connection to credit cards, instead only allowing payments with gift cards, store card or by directly connecting with a user’s bank account.

It’s possible that Target believes it can develop a more elegant solution in-house, rather than through this joint effort. That’s certainly believable given that Target has already rolled out a suite of beautifully designed mobile applications that are also innovative from a technical perspective.

TGT stock is down 1.33% Friday.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/12/target-mobile-wallet-apple-pay-tgt/.

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