According to Apple, Apple Pay is accepted at around 85% of retail stores in the United States.
Are you planning to visit Lowe’s for shopping soon? If yes, then you might be wondering if they take Apple Pay or not.
Does Lowe’s Accept Apple Pay?
Unfortunately, Lowe’s doesn’t accept Apple Pay as a payment method at any of their stores. Lowe’s hasn’t installed any NFC technology in any of their stores. That’s why they aren’t able to offer the facility to pay via Apple Pay.
Moreover, the company doesn’t have any current plans to install this technology to enable the use of digital wallets, Apple Pay, for example, at their store. Here’s the good news – there are other payment methods that Lowe’s accepts in place of Apple Pay.
Keep on reading to learn about them.
What is Lowe’s?
Lowe’s is an American chain company that deals in a variety of home improvement products. They have more than 300,000 employees and 2197 stores in 50 states. Lowe’s offers premium home improvement gadgets or products like lumber, appliances, flooring, hardware, outdoor furniture, building materials, and much more.
With 35000+ products in each store, Lowe’s has everything that one needs for house maintenance, decoration projects, and remodeling. The company was founded by Lucius Lowe in 1921 and is now the United State’s second-largest supplier of home improvement products.
What is Apple Pay?
Apple Pay is a contactless and convenient payment method. It only works with Apple devices such as iPhone and Apple watch. One can use Apple Pay in-person at various stores, via the smartphone application, or through the web.
It’s a completely safe and secure way to make payments from one bank account to another. But can we use Apple Pay in any retail store? Do Lowe’s accept it?
Let’s find out.
Payment Methods Accepted By Lowe’s
Don’t be sad if you have Apple Pay and can’t use it at Lowe’s. There are many more payment methods other than Apple Pay that you can use at Lowe’s. Two of the most popular ones include cash and personal checks. Moreover, Lowe’s also accepts various major credit cards like:
- American Express
In addition to the above options, if you have Lowe’s gift cards, you can also use them to pay your bill. In case the purchase amount exceeds your gift card’s limit, you can also bring in other payment methods such as PayPal.
Here’s the twist – you can only use PayPal for online purchases, not at their store. Besides, if Lowe’s is your regular shopping center, having a Lowe’s credit card will be extremely helpful. It can be used to purchase any product from Lowe’s online and offline store.
Now comes the most important and commonly asked questions – why don’t Lowe’s accept Apple Pay? Let’s find out.
Reasons Why Lowe’s Doesn’t Take Apple Pay
Apple users are increasing in number every year. And with that, the number of Apple Pay users is also increasing. When other retail stores have started to embrace digital wallets, including Apple Pay, Lowe’s remains one of those who haven’t introduced digital payment methods yet.
You might wonder what’s taking the company so long to welcome digitalization. Following are a few reasons why Lowe’s hasn’t introduced Apple Pay to their stores yet.
The first reason could be the transaction fees associated with Apple Pay. If Lowe’s uses Apple Pay at their stores, they are liable to pay merchant fees to Apple. Basically, a merchant fee is a type of transaction fee based on the total amount of the bill.
So if a customer pays for their purchases at Lowe’s through Apple Pay, Apple will receive a percentage of the transacted amount. That amount is charged by Apple as the cost to implement its services at Lowe’s.
For some retailers, the merchant fees can be a big cut of their profits. So there’s a theory that Lowe’s is saving their profits that might have vanished if they had introduced Apple Pay to their stores.
Absence of the Required NFC Technology
Another apparent reason why we haven’t seen Lowe’s accepting Apple Pay is that they don’t have the required NFC technology. While many stores and brands have adopted this technology to support Apple Pay, Samsung Pay, or Google Pay, Lowe’s has not.
NFC terminals, also known as near-field communication terminals, scan some signals or codes that come from smartphones. This enables the transfer of payments without the need to handle cash or cards. However, installing NFC technology is really expensive.
This technology is relatively new. That’s why its cost might be too high for Lowe’s to install in all of its stores. Since they don’t have any plans to decrease the cost, installing this technology will cost them a fortune.
Lowe’s Credit Cards
According to many industry experts, Lowe’s hasn’t adopted Apple Pay because there’s a possibility that it might decrease their own credit card users. Digital wallets like Apple Pay allow customers to connect a variety of cards and payment types to their digital accounts.
This way, suppose if one card doesn’t work, they can quickly switch to another to make the payments. This reduces the need to sign up for Lowe’s credit card, which is not good for their business. Since Lowe’s doesn’t accept Apple Pay currently, this forces their Apple users to apply for their credit cards.
Lowe’s doesn’t take Apple Pay because they do not have the required NFC terminals at their stores. In addition to the offline stores, you cannot use Apple Pay at their online store either. Moreover, at the moment, they don’t have any plans to start installing these terminals to enable the use of digital wallets.
In the end, if you have any issues understanding anything we have shared with you, do let us know in the comment section below.