Does Lowes Take Apple Pay 2022: Surprising Facts!

Ever since man began to understand trade, currency has become the most important part of any transaction or trade. And this is not the tale of some 100 or 200 years ago but as long back in history as you can date back. To give something of value in return for anything that we are about to acquire or own.

Anyways this was a bit of a philosophical discussion of it. To make it simple for you, anything that we trade or owner needs to be paid. Trade can imply a lot of things starting from buying different products, eating food, traveling somewhere, and several other things. Now, as the world progressed, the exchange of currency also changed its form of transfer.

The world realized keeping things hand-to-hand is not of much convenience anymore, and so slowly and steadily, it changed to a digitalized form. By now, it must be clear to you what this article is going to be about. Something about a digital trade transaction.

Without beating much around the bush, let us directly acknowledge the title of this written piece of article. It is about whether or not Lowe’s takes apple pay. Now, either we can jump straight into the topic or the other hand, take some time to break down each term. To be on the safer side, I am going first to explain the terms so that those of you who are not very familiar with these terms will get an idea.

What is Lowe’s and what is Apple pay?

Lowe’s Companies Inc. or better known as Lowe’s is an American company in the retail sector. The specialty of this company is home improvement. Headquartered in North Carolina, it has a chain of retail stores in the United States and Canada. It has several home improvement and hardware stores across the North American continent.

We must be clear by now that the discussion is going to be about whether Lowe’s takes Apple to pay for its retail transactions, being the second-largest hardware chain in the world. There must be confusion in some of your heads regarding what apple Pay is. So, we are going to dedicate some parts of our article to discussing Apple pay as well.

Apple pay is a payment service based on the mobile platform provided by Apple Inc., which allows people to make payments on iOS apps and also on the web. It is a completely wireless service, just like Google pay and Paytm. Simply speaking, it provides the facility for contactless transactions.

Some places where Apple Pay is implemented are in some public transport networks through credit or debit cards or some dedicated travel cards. To name a few, Chicago’s Transit Authority’s Ventra and Hong Kong’s Octopus card are a few. Apple pay uses the technology of EMV Tokenisation Specification. There is total maintenance of privacy between the retailer and one making the payment through a secure network. This is done by replacing the customer’s debit or credit card with a Funding Primary Account Number.

Does Lowes take Apple Pay?

The guess is that by now, you must have a bit of an idea about what Lowe’s is and what Apple pay is. The question now is, does Lowes take Apple pay? Without wasting much time, let us jump straight into the subject matter. Most of the customers who must be reading this would be iOS users. They would be wondering whether or not their Apple pay would help them have a retail transaction with Lowe’s.

To your disappointment, Lowe’s does not accept payment from Apple pay in any of its 2200 locations all around the continent of North America. The reason behind Lowe’s not accepting payment from Apple pay is because of the lack of NFC infrastructure for payment. What is the exact meaning of the term NFC or near field communication is what we will discuss first.

A set of protocols known as near-field communication (NFC) allows two electronic devices to communicate over a range of no more than 4 cm (112 in). NFC provides a slow connection with a straightforward setup that can be utilized to launch more powerful wireless connections.

Even while digital wallets like Apple Pay are swiftly gaining popularity, Lowe’s hasn’t made the investment in work needed to make this a practical payment option for their company. It can be considered to be a setback for the company. This is because there is no further plans of having a provision for this have been declared as of yet by Lowe’s board.

Apart from NFC being a reason for Lowe’s not being able to accept Apple pay, there are some other reasons behind this as well. The second reason is the transaction fee issue. Transaction fees are the second justification. The store does pay a small fee to accept credit cards. It is true that when clients use them to make transactions.

In any case, this is a significant source of revenue for credit card firms. Similar to other payment methods, Apple Pay levies a transaction fee for the ease with which customers can use the service.  Lowe’s may simply see it as another reason to lose the sale. Or the transaction fees may be higher than those charged by credit cards.

Lowe’s wants to promote its credit card

It’s also crucial to keep in mind that Lowe’s accepts credit cards. Digital wallets, such as Apple Pay, serve as hubs for syncing and using other credit cards for payments. However, if Lowe’s permits this, it will only reduce the appeal of having a Lowe’s credit card for its customers.

For Lowe’s, that would be a conflict of interest. They, therefore, think it is advantageous to exclude Apple Pay as an alternative. After all, this credit card charges interest to people who do not pay off the entire sum, just as other credit cards. And Lowe’s makes a profit on the cash.

This must leave your head with some answers to the question that does Lowes accept Apple pay.