You can add Target to the list of major retailers who may be thinking about developing their own mobile payment system, similar to Apple Pay. The report says the retailer is still in the early stages of developing the service.

According to Reuters:

The fourth-largest U.S. retailer has not committed to launch the product, which would allow customers to pay for goods using an app on their mobile phones. The mobile wallet could launch as early as next year, but it is too early to predict, two of the sources said. Target's team has taken some important decisions such as partnering with credit card companies and they are in favor of processing transactions using scanning technology to communicate with payment terminals, the two sources said.

This report comes just a few days after one of Target's biggest retail rivals, Walmart, officially launched its own mobile payment system.

Source: Reuters