Does Apple Pay Give Cash Back?
Apple Pay is a popular mobile payment service that allows users to make contactless payments using their Apple devices. While it’s not a traditional cashback program, Apple Pay does offer some interesting benefits that can help you save money on your purchases. In this article, we’ll explore whether Apple Pay gives cash back and what you need to know.
How Apple Pay Works
To use Apple Pay, you’ll need to have an iPhone 6 or later, an iPad, or an Apple Watch Series 1 or later. You’ll also need to set up Apple Pay on your device by linking it to your bank account or credit card. Once set up, you can use Apple Pay to make contactless payments at merchants that accept the service.
Do You Get Cash Back with Apple Pay?
The short answer is no, Apple Pay doesn’t give cash back. Unlike traditional cashback credit cards, Apple Pay doesn’t offer a cashback reward on every purchase. However, there are some ways to earn rewards and cash back with Apple Pay.
How to Earn Rewards with Apple Pay
To earn rewards with Apple Pay, you need to:
- Set up Apple Pay on your device
- Link your bank account or credit card to Apple Pay
- Use Apple Pay to make purchases at merchants that accept the service
- Earn cash back on your purchases when you meet the eligibility requirements
Here’s a summary of how to earn rewards with Apple Pay:
• Earn 1% cash back on most purchases: You’ll earn 1% cash back on your purchases when you meet the eligibility requirements. This is a relatively low earning rate compared to traditional cashback credit cards.
• Get cash back for specific purchases: Some merchants accept Apple Pay and offer cash back on certain purchases. These purchases may include:
- Merchandise: Apple pays a flat 1% cash back on all merchandise purchases.
- Downloadable content: You can earn 1% cash back on all content purchases, including apps, music, and movies.
- Airbnb: Apple Pay offers 1% cash back on all Airbnb bookings.
- Coffee: Some coffee shops offer 1% cash back on all purchases made with Apple Pay.
• Buy with Apple Pay: You can also earn cash back on your purchases when you buy with Apple Pay. For example, if you buy a coffee using Apple Pay, you’ll earn 1% cash back on that purchase.
Other Ways to Earn Rewards with Apple Pay
In addition to earning cash back on purchases, you can also earn rewards with Apple Pay through other means:
• Use Apple Pay for everyday purchases: You can use Apple Pay to make everyday purchases, such as buying food, household items, and other essentials. These purchases are subject to the 1% cash back rate.
• Link multiple credit cards: You can link multiple credit cards to Apple Pay, earning cash back on all purchases.
• Use Apple Pay for in-app purchases: You can use Apple Pay to make in-app purchases on apps like Apple Music, Apple TV+, and Apple Arcade.
Table: Apple Pay Cashback Program
| Category | Reward Rate | Eligibility Requirements |
|---|---|---|
| Everyday purchases | 1% | 1% cash back on all purchases |
| Merchandise | 1% | 1% cash back on all merchandise purchases |
| Downloadable content | 1% | 1% cash back on all content purchases |
| Airbnb | 1% | 1% cash back on all Airbnb bookings |
| Coffee | 1% | 1% cash back on all coffee purchases |
| Buy with Apple Pay | 1% | 1% cash back on all purchases |
Conclusion
While Apple Pay doesn’t give cash back, it does offer some interesting benefits that can help you save money on your purchases. By linking your bank account or credit card to Apple Pay, you can earn rewards and cash back on certain purchases. However, be aware that Apple Pay rewards are relatively low compared to traditional cashback credit cards.
If you’re looking for a way to earn rewards, consider linking multiple credit cards to Apple Pay, earning cash back on everyday purchases, and using Apple Pay for in-app purchases.