As retailers start to embrace current technology to make checking out faster and safer, many are installing NFC (Near-Field Communication) terminals in their stores.
NFC terminals enable certain digital wallets like Apple Pay, Google Pay, and Samsung Pay to be used as a method of payment.
However, not all stores are so quick to adopt the latest technology.
If you’re shopping at Lowe’s, then you may wonder if you can use Apple Pay to pay for your purchases.
Here’s what you need to know about Lowe’s and whether they accept Apple Pay or not.
Does Lowe’s Take Apple Pay?
No, Lowe’s does not take Apple Pay.
At this moment, Lowe’s doesn’t have any NFC technology installed to make using Apple Pay possible.
There are also no current plans for Lowe’s to install this technology to enable the use of digital wallets like Apple Pay.
They do, however, accept other payment types in place of Apple Pay.
What Payment Methods Does Lowe’s Accept?
Even though Lowe’s doesn’t accept Apple Pay, they do have several other payment methods you can use.
Like all other stores, you can still use cash or a personal check to pay for your purchases.
They also accept a number of major credit cards like the following:
- American Express
If you have a Lowe’s gift card, then you can also use that to pay for your purchases.
If the total exceeds what the gift card covers, however, then you’ll need to bring a second method of payment to cover the difference.
Lowe’s also accepts PayPal but only for online purchases.
You can’t use it in the store since it doesn’t support that kind of technology.
Finally, Lowe’s has its own credit card.
You can use that to make purchases of any product that you buy in the store or on their online store.
Why Doesn’t Lowe’s Accept Apple Pay?
While many other stores are starting to embrace digital wallets, Lowe’s remains one of those that hasn’t made the change yet.
You may wonder what’s taking them so long to embrace the future.
Here are a few reasons Lowe’s may not have implemented Apple Pay into their systems yet.
1. Transaction Fees
A likely reason is the associated fees with Apple Pay.
To use Apple Pay in their stores, Lowe’s would have to pay a certain merchant fee to Apple.
This is a transaction fee that’s based on the total amount of the purchase.
Apple gets a percentage of each purchase to cover the cost of implementing its service at the retailer.
For some retailers, merchant fees can take a large cut of their profits, especially if they cater to several different credit card companies.
Some retailers choose to let their customers pay for the transaction fee by adding it to their total.
Others who are wary of driving their customers away by using this method choose to take on the cost instead.
If Lowe’s carefully watches their budget, then they probably have a threshold for what’s an acceptable cost for merchant fees.
Apple Pay may be beyond that acceptable amount.
They don’t implement Apple Pay at their store because, at the moment, it’s too expensive for them.
2. They Don’t Have NFC Technology
Lowe’s also doesn’t have NFC technology installed at their stores.
Whereas some stores have adopted the technology to support Google Pay or Samsung Pay, Lowe’s has not.
That means they have no way to support Apple Pay or any other digital wallet at the moment.
NFC terminals, also called near-field communication terminals, scan some sort of code or signal that comes from a smart device.
It then takes that information and applies it to the purchase.
This enables the purchase to process without the need for handling physical cards or money.
However, installing NFC terminals can be pricey.
Since it’s still a relatively new type of technology, the cost of it may be too high for Lowe’s to justify.
They’d need to implement them in all, or most, of their stores as well.
That can become costly.
Since they don’t have any existing infrastructure to bring down the cost, installing NFC terminals to enable Apple Pay payments may be too costly for Lowe’s at the moment.
3. Focuses Customers On Lowe’s Credit Card
One of the most likely reasons that Lowe’s hasn’t adopted Apple Pay yet is that they know it will draw customers away from their credit card.
When customers use digital wallets, they’re able to connect a variety of cards and payment types to their accounts.
This ensures that even if one card isn’t working when it comes time to pay, they can quickly switch to another one.
That reduces the need to sign up for a Lowe’s credit card.
Since Lowe’s doesn’t accept Apple Pay at the moment, their Apple users are also forced to use one of their currently-accepted methods of payment instead.
For some Apple users, this could be their Lowe’s credit card.
The last thing Lowe’s wants to do is lose out on additional money by accepting Apple Pay.
If their customers stop using their credit card and instead use Apple Pay, then it hurts Lowe’s twice over.
They no longer receive those additional payments via their credit card, and they have to pay transaction fees to Apple.
Through their credit card, Lowe’s can make additional money on interest and monthly payments.
If some people chose to close their credit card account and use Apple Pay instead, then Lowe’s loses revenue.
That isn’t something they want to do even if it makes checking out easier for their customers.
Lowe’s doesn’t take Apple Pay because it could make some of their customers give up their Lowe’s credit cards and use Apple Pay solely instead.
4. Lack Of Interest
A final reason Lowe’s hasn’t adopted Apple Pay into its systems is simply a lack of interest.
NFC hasn’t hit the mainstream yet.
The type of consumer base that shops at Lowe’s may also have no interest in it.
They may find dealing with digital wallets too difficult or time-consuming for what it’s worth.
This is especially true when their traditional forms of payment work well.
They don’t have a reason to make the switch to digital wallets yet.
If there were a large amount of support for using Apple Pay from their consumers, then Lowe’s might take action.
However, since there hasn’t been a lot of perceived interest in installing NFC technology, Lowe’s hasn’t felt the pressure to add Apple Pay and other digital wallets to their accepted payment methods.
Until their consumer base starts to push for digital wallets, it’s unlikely that Lowe’s will start to install NFC terminals in their stores.
Why Lowe’s Should Install Apple Pay
Although Lowe’s hasn’t taken any steps to install Apple Pay, there are a few reasons they should.
Here’s why Lowe’s should install Apple Pay into their stores.
1. Convenient Shopping
There’s no question that once customers understand how to use digital wallets, they’re far more convenient than other forms of payment.
With credit cards, the customer has to sift through their wallet and find the right card.
Then they need to swipe it, plug in their PIN if needed, and then wait for the transaction to process.
In some cases, they even need to write down their signature.
There are several steps to the process.
The same goes for paying in cash.
They have to count out the amount they need, then either insert it into the machine or give it to a cashier.
Then the machine or cashier needs to count out change.
It takes time.
Digital wallets make the checkout process faster and easier.
All they need to do is confirm the payment with some form of a biometric scan.
Then the payment processes and transfers.
That’s the entire process.
Since it’s fast, it speeds up the checkout lane.
This can increase customer happiness since no one enjoys standing in line for a long time.
Lowe’s might find that if they start using Apple Pay in their stores, their customers will find it a more convenient way to pay.
As a result, it increases their happiness and customer loyalty.
2. Invites More Customers
Some customers use their Apple products for everything.
They’re reliant on them.
If a store doesn’t accept Apple Pay, like Lowe’s, then it might discourage them from shopping at the store.
There’s no question that NFC technology is likely the future.
It may be a steppingstone or it may become the primary way funds transfer for the next decade.
However it plays out, if Lowe’s doesn’t install NFC terminals and accept digital wallets, then they’re not preparing themselves for future customers.
Instead, they’re counting on older customers.
The problem with focusing on your current consumer base and not making changes to bring in future customers is that it makes your business static.
Static businesses don’t succeed.
To survive in the market, businesses have to remain adaptable.
They need to embrace change instead of reacting to it.
Lowe’s could end up turning away a large number of would-be customers in the near future because they don’t have NFC terminals.
If Lowe’s wants to stay competitive in the future, then they need to start implementing changes, like using digital wallets, sooner rather than later.
3. Sanitary Way To Make Payments
Thanks to the COVID-19 pandemic, many consumers are more concerned with how sanitary a store is.
With so many people passing through the store on a given day, the risk of spreading germs and disease is high.
No one wants another pandemic.
That’s why many consumers are willing to embrace payment methods that cut down on the amount of physical touching involved.
Using digital wallets requires little, if any, touching of any physical device.
Customers only hold their phones near the terminal.
The only touching that they still need to do is the checkout screen if they have to enter specific information.
If they’re checking out with a cashier, then they don’t touch anything.
The cashier handles everything, and they only need to touch and hold their phone close to the NFC terminal.
This cuts down on the number of germs spread at checkout lanes.
With a pandemic-conscious customer base, Lowe’s can make their customers feel safer about shopping in their stores by using Apple Pay and other digital wallets.
Can You Use Apple Pay At Lowe’s Online Store?
Although Lowe’s doesn’t accept Apple Pay in their physical stores, you may wonder if they accept it in their online stores.
Unfortunately, Lowe’s does not accept Apple Pay on their online store either.
The reasons for this are likely similar to the reasons that Lowe’s doesn’t accept it at their physical stores.
It costs them money to implement it and drives interest away from their Lowe’s credit card.
Can You Use PayPal At Lowe’s?
While you can’t use Apple Pay at Lowe’s, you can use PayPal on their online store.
They do not accept PayPal in their physical stores.
To use PayPal on their online store, you need to find the “Other Payment Methods” on their checkout screen.
Once there, you’ll see an option to pay with PayPal.
Click that and a prompt will appear to connect your PayPal information to the store.
PayPal will transfer the funds and the purchase will go through.
Paying for items with PayPal is similar to Apple Pay.
PayPal is also a digital wallet that connects various cards and banks to your account.
When making a payment, you choose the default method of the various payment types that you have attached to your account.
Since Lowe’s accepts PayPal on their online store and not Apple Pay, there’s a question as to whether Lowe’s intends to adopt other digital wallets in the future.
Does Lowe’s Accept Samsung Pay?
Some customers may wonder if Lowe’s will accept Samsung Pay instead of Apple Pay or Google Pay.
There are several mixed reports.
Some customers found that they were able to use Samsung Pay at stores.
Others were unable to do so.
The different results likely stem from the fact that Samsung doesn’t only rely on NFC technology.
It also has a magnetic strip transmission system that enables the transfer of funds.
Some Lowe’s stores may have been able to process payments with this method.
Those who were unaware of this method and believed that Samsung Pay was NFC-only may have denied the method of payment.
If you intend to pay with Samsung Pay, then it’s a good idea to bring a backup form of payment just in case.
Not all Lowe’s stores may understand how to use the magnetic strip transmission system.
What Credit Cards Does Lowe’s Offer?
Although Lowe’s doesn’t accept Apple Pay, you can find several credit card offers through their store.
Many of them come with benefits.
Here are some of the credit cards that Lowe’s offers.
1. Lowe’s Advantage Card
One of their most popular credit cards is the Lowe’s Advantage Card.
This card gives you 5% off every day on certain purchases.
It also applies to six-month special financing.
You can also choose to undergo an 84-month payment plan at a reduced APR on certain purchases.
Those monthly payments use a fixed APR.
You’re also able to attend certain events open only for cardholders.
Finally, this card doesn’t come with any annual fees.
It’s an ideal credit card for someone who makes frequent purchases at Lowe’s.
2. Lowe’s Business Credit And PreLoad Card
If you want to make the most of your purchases for your business, then you may want to consider a Business Credit and PreLoad Card from Lowe’s.
Like the Advantage card, you receive 5% off certain purchases every day.
You also have reduced delivery costs.
They give you invoicing options, too, to simplify understanding what purchases your employees are making.
Also like the Advantage card, you’re able to attend special cardholder events.
If you’re not fond of credit cards, then Lowe’s also has a lease-to-own option.
They have several different programs within their lease-to-own business.
Some save you more money than others.
The idea is that you lease a tool or some materials from them.
Then you pay a certain amount over a certain amount of time until you pay it off.
Once you pay it off, you officially own the equipment or material.
It’s a great way to buy something expensive for someone who may not have an ideal credit rating or a credit card.
Lowe’s doesn’t accept Apple Pay because they don’t have NFC terminals in their stores.
Their online store doesn’t accept Apple Pay either.
At the moment, there are no current plans for Lowe’s to start installing NFC terminals to allow payments with digital wallets.
They do offer their own credit cards to make funding projects easier.