Target launches a mobile 'Wallet' in its Android and iOS apps

US retailer, Target has added a new mobile payment system in its Android and iOS apps named "Wallet". Wallet uses a barcode scanned at check out that includes payment and applicable coupons.

“Wallet in the Target app makes checkout easier and faster than ever,” said Mike McNamara, Target’s chief information, and digital officer. “Guests are going to love the convenience of having payment, Cartwheel offers, Weekly Ad coupons and gift cards all in one place with Wallet.” Wallet is currently limited to use with Target's REDcard credit and debit card. The company said that the ability to redeem Target gift cards with Wallet is coming soon.

You open the Wallet inside a Target store, scan any coupon barcodes, and then scan your Wallet barcode at the register to pay with your REDcard.

Target claims that Wallet can make checkout four times faster than other payment types. Wallet combines digital savings—Cartwheel offers and Weekly Ad coupons—with the 5 percent REDcard discount. And, coming soon, guests also will be able to store and redeem Target gift cards with Wallet.