The physical brick-and-mortar retailer for individuals who believe they are “too good” to set foot in a Walmart store (WMT – Analyst Report), Target (TGT – Analyst Report) is developing its own version of a mobile wallet.

(Also read “Wal-Mart Pay: Is It a Threat to Other Mobile Payment Options?” for information on that subject.)

Image via corporate.target.com

Reuters reports that Target is in the preliminary stages of planning its own payments system as well. Furthermore, the company has not fully committed to launching the system just yet and is simply exploring its options. Target has reached out to credit card companies regarding how transactions will be handled.

Engadget notes that Target is part of the “CurrentC” mobile wallet initiative, and plans to remain a member – alongside Walmart – of the Merchants Customer Exchange that’s developing the software.

While details are currently scarce, Target’s proposed payment system appears to be more like the regular setup where you hover your phone over a terminal to make a payment. If Target decides to move forward with this initiative, the company will enter an already crowded and competitive field that includes the likes of Apple’s (AAPL – Analyst Report) Apple Pay, Google’s (GOOGL –Analyst Report) Android Pay and Samsung’s Samsung Loop Pay.

If retailers and companies continue to develop these mobile payment systems, it begs the question of whether individuals will eventually need a separate payment app for each retailer the individual shops at. Will our mobile wallet become as digitally cluttered as our material wallets are physically unorganized? That question, however, is a thought exercise for another day.