Loyal Kohl's shoppers can now leave their wallets at home. The retailer has made its Kohl's Pay mobile payments platform available to customers nationwide. Designed to tie shoppers more closely to the retailer by incorporating loyalty points and promotions, the rollout also cuts another slice in an already fragmented mobile payments market.
Kohl's is leveraging the popularity of its branded charge card and mobile app, calculating that customers will embrace the convenience of card-free payments. Unlike mobile payment options from Walmart and CVS, Kohl's Pay doesn't allow customers to add their other credit and debit cards to the app for use in stores. Instead, consumers will have to sign up for one of the company's own Kohl's Charge cards. Kohl’s already has 25 million customers actively using its credit cards — with 60% of in-store purchases being paid for with Kohl's Charge — and its mobile app has been downloaded more than 14 million times, so this closed-loop solution has a solid base to work from.