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Target launches a mobile wallet in its Android and iOS apps

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Target released its own mobile payments system today, called Wallet, which will live inside its app on iOS and Android. Reports of Target working on an in-house mobile wallet surfaced as early as 2015. Target confirmed the reports this past January to The Verge’s sister site Recode.

The feature works like this: you open Wallet inside a Target store, scan any coupon barcodes, and then scan your Wallet barcode at the register to pay with your REDcard (which you upload beforehand). Currently, you must have a REDcard — which are Target-branded credit or debit cards with special offers — if you want to use the Wallet feature, but the feature will eventually roll out to non-cardholders. Target gift cards can’t be used with Wallet yet.

Target reportedly tested how long it took to check out with the app compared to checking out at a kiosk or with a cashier. The company found checkout with the app to be up to four times faster than other methods.

You could already use Apple Pay with the Target app on iOS as a payment option, so this new service appears to mainly be a promotion of Target’s REDcard.