Reuters is reporting that Target may enter the mobile payment space along with Walmart and other retailers wanting their piece of the pie. Apple and Google have been rolling out their “Pay” systems, and theirs make the most sense as you can use them in a variety of businesses. With Target and Walmart entering the fray and other retailers following their lead, the space continues to become convoluted. The advantages for retailers like Target and Walmart is targeted demographics and data collection on their customers. But that puts the consumer at a disadvantage having to keep multiple apps on their devices to pay at different stores.
With a system like Android or Apple Pay you have one app that can be used in multiple stores, meaning you’ll only need one app on your phone. The retailers are making a play here for data. Your data is valuable to anyone selling or providing a service. Even websites like this collect data on who visits, how often and from where. Data is helpful to streamline the product and provide the stuff people want. If Target can get that information, it would save millions of dollars in mis-orders, insufficient stock and other things.
But while this is helpful to the retailers, is it convenient for the consumer? Do you want to have multiple apps on your device to pay for your items? Let us know what you think in the comments below or on Google+, Facebook and Twitter.Source: Source: Reuters