As retail takes a gigantic leap towards digitalization, Target, one of America’s renowned retail chains, has decided to make a noteworthy change that will affect the way customers transact in their stores. From June 21, 2021, Target will no longer accept personal checks as a form of payment.
The shopping experience with Target, till now, included numerous self-checkout kiosks as well as traditional checkouts. While most customers were opting for cashless payment methods like credit cards, debit cards, and mobile wallets, there were still some who carried out transactions using personal checks. But this will change as Target will no longer entertain personal checks to streamline the checkout process.
The move is certainly a significant deviation from the tradition, however, is in line with the transformation in the retail marketplace. Retail giants are looking for ways to simplify the checkout process with newer, more instant means like touchless pay and digital methods. This is not just a trend but more of a necessity, particularly since the onset of the COVID-19 pandemic, where the least contact possible is preferred for safety reasons.
Although this decision may seem abrupt to some, Target’s strategy extends further than just adopting modernization. This decision particularly safeguards against potential issues such as insufficient funds or accounts closure that can happen with personal checks. It also reduces the risk of fraudulent checks, hefty bank fees, and the time it took for each check to clear, making each transaction more efficient.
Target has affirmed that other payment methods like cash, credit cards, debit cards, and even gift cards will still be welcome in their stores. It will also continue to accept mobile payments including Apple Pay, Google Pay, and even electronic benefit transfer (EBT) methods. Hence, despite this adjustment, there are still various modes that customers can utilize for transactions in their outlets.
In the backdrop of integrating their operations with digital transformation, this decision to discontinue personal checks can also be seen as an attempt on Target’s part to mitigate the risk of identity theft and fraud. By eliminating paper checks, Target lowers the chance of sensitive information being compromised, as personal checks tend to contain confidential details, including bank account numbers and addresses.
While this decision marks a sizeable shift in Target’s transaction policies, it won’t be a surprise if other retail chains follow suit, considering the exponential growth in technology and digital payment modes. While some customers might find this switch a bit inconvenient initially, a majority of the shoppers who are more adapted to digital transactions might appreciate this stride towards smooth and contactless payments.
In essence, Target discontinuing the acceptance of personal checks is a significant symbol of the changing consumer landscape. The trajectory of this change points towards a digitalized, streamlined, and perhaps safer future, leveraging technology in retail to foster better and efficient customer experiences.