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
Michaels claims Google-powered AI assistant doubles conversion rate of traditional search
Michaels shared early results of its new Google Gemini-powered AI assistant.
Mythbusters: AI visibility’s biggest misconceptions
AI visibility is evolving quickly, but many of the industry’s biggest assumptions don’t hold up. Experts debunk the biggest myths.
How AI costs are quietly reshaping principal media deals
AI doesn’t have a price. Principal media is absorbing it anyway.