Target mobile wallet

Likewise, Apple Pay, Target Corp, the fourth largest US retailer is secretly developing its own mobile wallet, according to the sources.

Reports say the mobile wallet will be launched next year, which would facilitate consumers to pay for goods via the wallet on their phones. The company has also taken moves to partner with credit card companies and process transactions using scanning technology.

However, the company has not tested its wallets till now, as per sources.

Target spokesman Eddie Baeb said on Friday the retailer is testing CurrentC, which is being developed by the Merchant Customer Exchange (MCX), in a few stores but it is also exploring additional mobile wallet solutions. He declined to comment on whether the company was developing its own mobile payment service.

“Target is a participant of the MCX and we are testing its CurrentC mobile wallet with guests as part of a pilot in Columbus, Ohio,” Baeb said.