Does Lowe‘s Take Apple Pay in 2024? What You Need to Know

ByCharles Scott Last Update on

As mobile payments like Apple Pay continue to gain popularity across retailers, many Lowe‘s shoppers wonder if they can leave their wallets at home and pay with their iPhones instead. In this comprehensive guide, we‘ll explore if and when Lowe‘s could start accepting Apple Pay.

Why Doesn‘t Lowe‘s Take Apple Pay Yet?

Lowe‘s does not accept Apple Pay in any of its retail stores or on Lowes.com as of February 2023. The home improvement giant has lagged behind competitors in offering contactless payments like Apple Pay and Google Pay.

The main barrier is the high cost involved in upgrading payment systems and terminals to be compatible with mobile wallets. Industry sources estimate the cost for larger retailers to be between $100-$200 per terminal. With over 2,000 Lowe‘s stores in North America, the price tag adds up quickly.

Home Depot, Lowe‘s biggest competitor, started accepting Apple Pay back in 2016 but it took significant capital investment. Lowe‘s is likely performing a cost-benefit analysis to determine if and when mobile payments make financial sense.

The Trend Towards Contactless Payments

While Lowe‘s has been slow to adopt Apple Pay, contactless payments overall are accelerating rapidly across the US retail sector.

  • According to Visa, tap-to-pay payment volume grew 136% year-over-year in Q2 2022.

  • Mastercard reports that 45% of in-person transactions used contactless methods in 2022, up from 37% in 2021.

As more consumers seek faster checkout experiences, retailers feel pressure to activate NFC payments. But the pandemic significantly disrupted upgrade timelines and budgets across the retail industry.

How Consumers Are Using Apple Pay

Apple Pay has become a popular payment method due to its convenience and security benefits. Some key statistics about Apple Pay adoption:

  • Apple Pay is responsible for 90% of all contactless transactions on iPhones in the US as of 2022.

  • Over 90% of all new point-of-sale terminals coming online now support contactless payments like Apple Pay.

  • 75% of Apple Pay users say they use it at least once a week.

As Apple Pay reaches critical mass among consumers, retailers like Lowe‘s risk frustrating customers and losing sales by not accepting mobile wallet payments.

When Will Lowe‘s Get Apple Pay?

Lowe‘s has not provided any official timeline for when Apple Pay support may arrive. While some employees have posted on forums about seeing NFC upgrades in stores, this hasn‘t translated into a wider rollout yet.

In my analysis, Lowe‘s may look to add Apple Pay support in late 2023 or 2024. Given their delayed adoption already, they will likely take a slow and targeted approach focusing on higher-volume stores first.

Competitive pressure from retailers like Home Depot who have offered Apple Pay for years now may force Lowe‘s hand. But scaling contactless payments across over 2,000 stores doesn‘t happen overnight.

For now, Apple Pay users should be prepared to pay with another method when shopping at Lowe‘s. But mobile payment acceptance seems inevitable in the next 1-2 years.

The Bottom Line

Lowe‘s does not currently accept Apple Pay or contactless payments in its stores due to the costs of system upgrades. As adoption continues growing, industry trends point towards Lowe‘s eventually adding support, possibly starting with select locations.

But for now, Apple Pay users cannot tap to pay when shopping at Lowe‘s. Sticking with traditional payment methods like credit cards is still required for the foreseeable future.

Charles Scott is a dynamic professional whose academic and career achievements demonstrate a strong commitment to excellence in the retail and consumer service industry. Graduating with an MBA from New York University in 2013, Charles has built a diverse and impressive career portfolio. He has held significant roles as a manager, advisor, and marketer, showcasing his multifaceted skills and deep understanding of the industry.

Beyond his direct professional engagements, Charles has made a notable mark as the head writer and founder of ExpertBeacon.com. This platform stands as a testament to his dedication to consumer empowerment and education. ExpertBeacon.com is a resource designed to assist consumers in addressing their persistent questions about products, services, and companies. Under Charles's leadership, the site provides in-depth, well-researched, and accurate information, all structured in easy-to-follow guides and articles. His work here not only highlights his expertise in the field but also his commitment to providing valuable, actionable information to the public.

Charles's approach is centered on a keen understanding of consumer needs and market dynamics, making him a respected voice in the industry. His contributions through ExpertBeacon.com and his professional roles reflect a blend of strategic thinking, practical knowledge, and a genuine desire to enhance consumer experiences in the retail and consumer service sectors.

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