Target introduced Wallet, mobile app that allows customers to complete in-store checkout up to four times faster than traditional payment methods

Briefing

Target introduced Wallet, mobile app that allows customers to complete in-store checkout up to four times faster than traditional payment methods

December 6, 2017

Briefing
  • Mobile Wallet for Cashless Transactions – Target launched Wallet, Android- and iOS-based mobile app that uses barcode scanning technology, enabling customers to process in-store checkout up to four times faster than conventional methods through cashless transactions
  • All-in-One Mobile App – Customers can pay using Wallet through REDcard (i.e. debit card linked to bank account or Target-branded credit card) and avail special discounts or use coupons through Cartwheel feature
  • Integrating Other Features – Currently working to integrate more features into app, including ability to add or redeem Target GiftCards
  • Business Upside – Lowers costs by eliminating credit card transaction fees, attracts more customers to sign up for branded debit and credit cards, and provides company with valuable data useful for understanding customer behavior better

Market Disruption
New Payment Technologies

Business Model and Practices

Business Model
and Practices
Data, Interfaces and Algorithms, Minimized Cost Structures

Sector
Wholesale and Retail Trade

Organization
Target

Source

Original Publication Date
December 4, 2017

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