The wallet will enable customers to shop across Future Group outlets - Big Bazaar, Ezone and Hometown.
"We already have 60,000 downloads for FuturePay so far and are targetting one crore downloads in the next 18 months," Kishore Biyani, group CEO at Future Group, told reporters here.
"We will ensure that apart from the best experience, customers will also get the lowest prices on all products," he added.
The FuturePay wallet will be operational in Big Bazaar initially and all other retail formats by December, Mr Biyani said.
FuturePay offers a 'Price Match' feature, which matches items from the customer's bill with any competitor retail store's advertised prices. If it finds a lower price, it credits the difference to the buyer's wallet, he said.
FuturePay is powered by Oxygen Services and customers can make transactions after loading money into it through cash payments at any of its retail outlets, or through credit and debit cards, and net-banking.
Going forward, it will also tie up with various other wallets and payment schemes to ensure seamless transactions for customers, according to Mr Biyani.
Future Group has embarked on several digital initiatives to ensure an easy shopping experience for customers last year.
It has tied up with mobile payments and commerce platform Paytm to enable Paytm-users to shop Big Bazaar merchandise on the online marketplace and get it delivered to their homes.
Earlier, it had also tied up with Pune-based Bajaj Finance, the non-banking arm of Bajaj Finserv, to provide easy EMI to customers on groceries to household essentials of up to Rs 3 lakh.