Minneapolis-based super retailer Target is currently in the initial stages of its own mobile wallet, according to Reuters. It doesn’t necessarily mean that Target has plans to launch their mobile wallet, but it seems likely given competitor Walmart just launched its own wallet.
While the company still has its wallet in development, it does have partners on standby in case there is a green light for testing or commercial launch. Should Target decide to go ahead and launch their mobile wallet, the window could very well be early 2016. It would be cutting it close for the shopping season that occurs during the tax season, but would give the retailer more than enough room to build up a user base and make any improvements for the holiday shopping season.
The actual size of that user base is in question as there are already several mobile wallets out there from companies such as Google and Apple, but Target would want to at least offer the option as more companies, competitors, and potential partners are open to alternative payment systems.