Retail giants Wal-Mart Stores and Target Corp. are part of a group of merchants looking at developing its own mobile wallet or payment service, though few details are available, The Wall Street Journal reported today.
The wallet or system could compete with Google Wallet and Isis, said the publication, though it was unclear whether the initiative, if launched, would use NFC, support the established payment networks or create its own brand.
Sources, most unnamed by the publication, said the merchants believe they are “better-positioned than the other companies to devise services for their customers.” They also are worried about security and privacy risks of the services on the market, according to the report.
