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Does Lowe’s Take Apple Pay in 2023? A Complete Guide!

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Apple Pay has become a convenient way to make payments for the products you purchase, but does every company, shop, or service accept it as a form of payment? In this article, we discuss whether Lowe’s accepts Apple Pay to accept payments or not!

Lowe’s is an American-based retail company that provides its customers with home development and hardware products. It was established in 1921, and since then, the company has grown to be the largest company until 1989, when Home Depot surpassed it.

Lowe’s has almost 2000 stores and is the second-largest retail company for hardware products worldwide!

If you want to purchase products from Lowe’s to design your home and kitchen, then you should be well aware of the digital modes of payment that the company accepts. The company has various payment modes for its services, which we will discuss below.

But does Lowe’s take Apple Pay? That’s the point of this article, and we will be sure to answer it in as much detail as possible!

You will be clear about all the aspects of the modes of payment preferred at Lowe’s so that you have all the required information when you visit the store next time. It is natural to question whether Lowe’s accepts Apple Pay because many companies do. So let’s see!

Does Lowe’s Take Apple Pay?

Unfortunately, Lowe’s does not accept Apple Pay as a payment facility from its customers for in-store purchases or online. Lowe’s has no NFC technology installed at its stores to use Apple Pay.

It is so because Lowe’s has its credit card facility, and the company does not want its customers to show interest in Apple Pay instead and not its credit card.

does lowe's accept apple pay

As we know, Apple Pay is one of the fastest-growing modes of payment globally, but Lowe’s has yet to make the necessary changes to its payment facilities to have Apple Pay as one of its payment modes.

However, there are other modes of payment that the company accepts to purchase products from its stores.

  • Cash payment
  • Lowe’s credit card
  • Gift cards by Lowe’s
  • Credit cards
  • Debit cards, including American Express and Mastercard
  • PayPal to make online payments

As you can see, the company has PayPal as a payment mode for its digital platform. Lowe’s may consider accepting Apple Pay as a payment mode in the coming future.

Why Doesn’t Lowe’s Accept Apple Pay?

We know the company does not accept Apple Pay as a payment mode, but why exactly? There seem to be a couple of factors responsible for why Lowe’s does not accept Apple Pay as of yet, some of which are listed below!

Transaction Charges

Lowe’s will have to pay additional charges to Apple if it starts accepting Apple Pay as a payment method. Apple receives a small portion of each purchase, and Lowe’s has to pay a merchant fee, which can lower their profit margins.

Some business owners consider taking these charges while others add them to the customer’s bills. Thus, Lowe’s does not currently accept Apple Pay because of its expensive transaction fees.

2. Lowe’s Has No NFC Systems Installed

There are no contactless readers available at Lowe’s stores. The store’s inability to provide digital payment facilities is because Lowe’s does not have NFC technology. That means not only Apple Pay; the company does not accept Google Pay, Samsung Pay, or other digital wallets.

These NFC technologies are called near-field communication that transmits certain signals to make digital forms of payment without using currency (cash) and other physical cards like debit and credit cards.

3. Lowe’s Wants to Attract Customers to their Credit Card

Digital payment methods are a platform where customers can add their credit or debit cards to make payments. This digital payment facility will allow the customers not to accept Lowe’s very own credit card facility.

So, one of the reasons that the company does not take digital forms of payment is that it does not want to lose the customer’s interest in its credit card facility.

Suppose a customer uses Lowe’s credit card and cannot make the due payment on time. So, in this case, the interest charged will be a profit for Lowe’s and not for any credit card company. This profit is one of the major reasons Lowe’s has its credit card facility for its customers.

4. Lack of Interest

Lowe’s customers have been habitual in using the available mode of payment for a long time. The company does not need to add other payment modes to increase investment costs until it becomes a necessity for the company.

When Will Lowe’s Start Accepting Apple Pay?

As we know, Lowe’s does accept PayPal for its online payment, so there is hope. In the future, the company might consider taking digital wallets such as Google Pay and Apple Pay as a mode of payment.

The company has reasons for not providing these payment facilities, as it will require a considerable investment to set up NFC technology and accept other transaction charges. Officially, there is no statement made by the company for using Apple Pay as a payment mode as of writing this.

Should Lowe’s Take Apple Pay?

Although Lowe’s has its logical business reasons for not accepting Apple Pay as a payment mode, there are advantages to doing so. Some of them are mentioned below:

1. Convenient to Use

The quick and easy payment facility of Apple Pay makes it a convenient mode of payment. You don’t need to swipe a card, enter a PIN, or wait for the transaction to complete; instead, the transaction becomes simpler and faster.

The instant payment facility makes Apple Pay a more convenient mode of payment than other available payment forms.

2. Better Customer Experience

Many customers prefer using Apple Pay to make payments to other transaction modes. They will either go to other retail business owners who accept Apple Pay or those who do not.

Thus, if Lowe’s accepted Apple Pay as a mode of payment, it would help increase its customers, especially the more tech-savvy bunch. The more customers, the more likely it will be for the business to expand.

3. Safe Transactions

The NFC technology has a more secure and safe transaction facility as it is a contactless and digital mode of payment. In comparison, physical cards have a higher risk of theft or being inappropriately used by fraudsters.

Conclusion

Lowe’s does not have Apple Pay as a payment facility, but the company has never said it will never consider it an option.

It is just that the company does not feel the requirement to add such payment modes as means of transaction to incur unnecessary charges that come up because of these digital modes of payment.

The growth in the demand for Apple Pay as a payment mode will become necessary for most business companies as customers prefer using the digital platform to make payments. The companies will become liable to add digital payment facilities to increase customer experience and install NFC technologies at the stores.

So, it’s possible that we’d see Lowe’s accept Apple Pay as one of its payment methods in the future as more and more people use it as their preferred payment option!


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