As mobile payments struggle to reach widespread adoption, big-box retailer Target is jumping into the mobile payments market with its own digital wallet, hoping to tie in loyal store-branded card customers.
This week, Target launched Wallet, a bar code-based digital wallet that when enabled, lives within the Target app. It’s only open to Target REDcard credit and debit card customers, who already get a 5 percent discount on purchases. By integrating a digital version of the Target card into the app, it can apply offers and coupons at the point of sale — sweetening the offer for discount-hungry shoppers. Restricting the mobile payment feature to Target cards may seem backwards at the outset, especially given that Walmart offers a similar service compatible with any kind of card. But analysts say it serves important business objectives, which include driving up adoption of store-branded cards and creating a better customer experience by merging loyalty and payments into one place.
Read the full story on tearsheet.co
More in Marketing
Pitch deck: How Amazon is recasting Twitch as a core part of its CTV pitch
Amazon is positioning Twitch as a defining asset in its CTV ambitions.
Netflix transforms former mall department stores into experiential venues
The location in Dallas opens this week, and one at the King of Prussia mall near Philadelphia opened last month.
Future of Marketing Briefing: AI has created a new talent paradox in programmatic agencies
The job isn’t execution anymore. AI handles that. The job is judgement.