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.”