According to sources speaking with Reuters, Target is working on its own, proprietary mobile payments solution.
The scheme will likely use a barcode or QR Code in an app to let you pay for goods with your phone. Target is also reportedly finalizing which credit card companies it wishes to partner with for its mobile payment solution.
If this were 2 years ago, we’d likely be applauding Target’s efforts. Heading into 2016, Target is instead driving a wedge between consumers and its own interests. In creating its own payments solution, Target would get access to critical data like your credit card number and personal info.