Report: Target developing mobile wallet

A week after Walmart announced it would launch a mobile payment solution, one of its chief rivals is reported to be working on the same.

Target Corp. is in the early stages of developing its own mobile wallet, according to Reuters, but it has not yet committed to launching the product.

Target is among the retailers testing CurrentC, the mobile payment solution developed by the retailer-backed consortium Merchant Customer Exchange (MCX), and it is also looking into additional mobile wallets, said Target spokesperson Eddie Baeb. But declined to comment in the Reuters report on whether the retailer was developing its own mobile payments.

"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.

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