Target released its own mobile payments system today, called Wallet, which will be accessed from the Target app on iOS and Android. 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 and claims that checkout with the app isfour times faster than other methods.