Target, Walmart working on their own mobile payments service

Target, Walmart working on their own mobile payments service

Walmart, Target and some two dozen other retailers don’t like the fact that Google and/or major carriers (through Isis Mobile) will get to “control” mobile payments. According to The Wall Street Journal’s report, retailers want to get an upper hand in this fast-moving space.

Unfortunately we don’t have all the details at the moment, but we do have Target’s statement: “We are exploring potential solutions that would help us to deliver the fastest, most secure mobile-payment experience possible for our customers.” Kinda vague I know, though still telling us they’re onto something.

Google Wallet has already cornered some 22 retail chains, enabling consumers to make purchases by tapping their Android smartphone at more than 300,000 MasterCard PayPass-enabled merchant terminals.

After making a deal with major financial services providers like Visa, MasterCard, Discover and American Express in July – Isis Mobile unveiled plans to test the service in Salt Lake City and Austin, Texas, later this year.

Mobile payments are steadily heading toward the mainstream users and it seems this year the technology could reach the tipping point. We’ll see how that goes…

[Via: FierceMobileContent]

  • http://www.techendeavour.com/Mobile_Application_Development Mobile application development

    Mobile payments are a rave in the payment industry. Google
    Wallet’s NFC secret is now the talk of mobile industry. With contactless
    transactions the retailers will be benefitted the most with no processing fees
    expelled for the credit card companies. I feel monopoly is bad for a growing
    and expanding industry like mobile. Hence, with innovation mobile payments
    should be created to offer competitive rates to their customers rather than
    depending on ISIS mobile system payments.

  • Anonymous

    I would much rather have something carrier independent, like Google Wallet.

  • Muzaddid

    Mobile payments are a rave in the payment industry. Google
    Wallet’s NFC secret is now the talk of mobile industry. With contactless
    transactions the retailers will be benefitted the most with no processing fees
    expelled for the credit card companies. I feel monopoly is bad for a growing
    and expanding industry like mobile. Hence, with innovation mobile payments
    should be created to offer competitive rates to their customers rather than
    depending on ISIS mobile system payments.  Is good .

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