Ace Hardware Is Now Offering Apple Card Holders a 3 Percent Reward on Apple Pay Transactions

When purchasing from Ace Hardware using an Apple Card, consumers will now receive an additional cash back benefit.

The question is, how much will it be?

Ace Hardware Is Now Offering Apple Card Holders a 3% Reward on Apple Pay Transactions
CHRIS DELMAS/AFP via Getty Images

Ace Hardware Is the First Home Improvement Store To Offer Apple Card Cash Back of 3 Percent Daily

When purchasing from Ace Hardware using an Apple Card, consumers will now receive an additional cash back benefit. Apple Pay transactions at Ace Hardware stores and online now earn 3% Daily Cash with Apple Card, up from the previous rate of 2%.

This will be available for purchases made online, in retail stores, and through the Ace Hardware app.

Because of the new Daily Cash rate, as per Apple Insider, Ace Hardware is now the only home improvement retailer eligible for the 3% cash back.

Which Stores Are Qualified for the 3% Cash Back?

According to 9to5Mac, the Apple Card has a basic three-tiered cashback incentive system. The Apple credit card offers 2% cash back on all Apple Pay purchases and 1% cash back on purchases made using the physical titanium card. Select merchants provide a higher 3% rate, which applies to all Apple hardware and service purchases.

Nike, Panera Bread, T-Mobile, Walgreens, Uber, Exxon Mobil gas stations, and now Ace Hardware are among the third-party shops that provide the 3% Daily Cash rate.

Is the Apple Card Available Outside the U.S.?

Apple produced the card in collaboration with Goldman Sachs, a merchant bank. Apple Card is only accessible in the U.S. for now.

As a Result of Apple's Alleged Acquisition of a British Credit-Checking Company, a U.K. Apple Card Could Be on the Way

Credit Kudos provides loan application insights and scores based on transaction and loan outcome banking data sourced from the U.K.'s open banking system. The company began accumulating funds in April 2020, receiving $6.5 million in funding, and is now estimated to be worth over $150 million.

According to the three sources, as per the report of MacRumors, the acquisition deal with Apple had already concluded recently. It should be noted that the Terms of Use link on Credit Kudos's website leads to Apple's Terms of Use.

It's unclear what Apple has planned for Credit Kudos, although the company's technology could help Apple launch Apple Card in the U.K., which is one of Apple's most important markets. The U.K. has the most Apple Stores outside of the U.S. and China, and new features and services are frequently the first to arrive in the U.K. after being released in the U.S..

Shortcomings of Apple Payments

Forbes listed two shortcomings of Apple Pay.

The Apple Pay has a long way to go in terms of adoption.

According to a Cornerstone Advisors consumer survey conducted in Q1 2022, around half of consumers with a checking account and smartphone make mobile person-to-person (P2P) payments. Apple Pay has a 26% market share in this area, compared to 43% for CashApp and 76% for PayPal.

The growth of Apple Card is sluggish.

According to the Cornerstone study, the number of Apple Card users increased from 6.4 million in the start of 2021 to just 6.7 million at the start of 2022. This shows that in 2021, some (if not a large number) of Apple Card holders willingly or involuntarily stopped using their cards.

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