Target and Walmart are both jumping into the crowded mobile payments business in a bid to gain the upper hand from the tech giants Apple, Samsung and Google in the next generation of consumer payment convenience. Both will use barcode tech vs. NFC.. Oh dear..
This news comes about a week after Walmart introduced its own mobile payment solution called Walmart Pay. Customers only need to install the Walmart app on their Android or iOS phone and add a credit card to it in order to make payments with their phone. Target’s version will likely be something similar, and there’s a good chance it could become part of the current Target Cartwheel app. This has to be a huge blow to Apple, Google, and Samsung, who have mobile payment solutions already. Apple Pay and Android Pay require near field communications (NFC), while Samsung Pay can be used on virtually any credit card terminal without NFC because it emulates an actual physical card swipe using LoopPay technology. Walmart’s, and likely Target’s, solution is to display a barcode. NFC isn’t required.