Target is changing its focus to online e-commerce according to a report from Business Insider. The company believes its efforts towards this goal is a necessary step to broaden its horizons. Furthermore, a new position is available for a person who understands Bitcoin and blockchains, which was posted by Target’s Minnesota headquarters on the crypto-job site Coinality.
This month, Target reported some details to Business Insider’s E-Commerce Insider newsletter. Target points out that it will be adjusting its stores and employee training towards e-commerce. The retail chain’s online business has grown “34% year-over-year in the fourth quarter 2015,” and the company notes that customers are slowly moving away from brick-and-mortar locations. Insider’s newsletter says the corporation will invest $2 billion USD in 2017 towards e-commerce solutions and improving customer experience on mobile devices.
On May 7, the Brooklyn Park, MN division of Target posted a new job on Coinality, searching for a “Lead Technical Architect, Retail Payments Security.” The architect will focus on retail payment channels, and work with enterprise infrastructure. The job’s scope will also include encryption technology, PCI compliance, and payment security patterns. Target also wants the person to have an understanding of new emerging payment forms, like Bitcoin. The job posting states:
“Channels will include traditional in-store registers (point-of-sale), mobile payments, e-commerce, and may include emerging payment forms such as Bitcoin (or other blockchain variants), PayPal, etc. Strong background in financial data encryption schemes, tokenization methods, and EMV (chip-n-PIN) transaction verification flows required.”
The lead retail payment architect needs at least 3-5 years of experience in financial systems IT, payments, financial transfers, anti-fraud, and e-commerce. A strong familiarity in cryptography and particularly “DUKPT algorithms” is also required. Target lists an understanding of Bitcoin and blockchain technology as a desired trait, rather than a minimum requirement. The company wants someone who is very hands-on with this technology, and is able to “prototype and demonstrate solutions in software language of choice.”
The company hasn’t announced any clues regarding Bitcoin acceptance, but it’s possible they are preparing for future integration. As Insider’s newsletter details, the rise of online and mobile shopping has shown Target that there is more revenue to be made in this particular sector — especially during the holidays.
Target is not the only large business hiring blockchain and digital currency experts, as Walt Disney and Reuters are following similar paths. The world of finance is changing, and it’s hard for retail giants to not notice the potential of Bitcoin and its underlying technology.