Target announced an in-house mobile payments system today, called Wallet, which is making its debut within the company’s official shopping app for iPhone and iPad.

The Wallet feature lets you pay at Target stores using your REDcard and save with Cartwheel. For those wondering, REDcards are Target-branded credit or debit cards with special offers.

Any savings are automatically applied to your Target REDcard with a single scan of your iPhone at checkout, provided you’ve scanned your coupon barcodes beforehand.

According to Target itself:

One big benefit is faster in-store checkout—up to four times faster than other payment types, in fact. (We timed it!) Another perk? Wallet combines digital savings—Cartwheel offers and Weekly Ad coupons—with the 5 percent REDcard discount.

This new feature is also available in Target’s mobile app for Android. Or, if you’re unimpressed, you can continue using Apple Pay with the Target app on iOS as a payment option.

They will be adding more features in the future, including the ability for guests to also store and redeem Target GiftCards with Wallet.

Download Target’s shopping app for free in App Store.