Can you get cash back with Apple Pay?

Apple Pay is a mobile payment and digital wallet service created by Apple Inc. that allows users to make secure purchases in stores, apps, and on the web using their Apple devices. One common question that many users have is whether they can get cash back when using Apple Pay. In short, the answer is yes, you can get cash back with Apple Pay,  but there are some limitations and considerations to keep in mind.

How does cash back with Apple Pay work?

Cash back with Apple Pay is a feature that allows users to earn money back on purchases made using their iPhone or Apple Watch at participating retailers. This feature works by linking the user's credit or debit card to their Apple Pay account, enabling them to receive a portion of their purchase amount as cash back. When a user makes a qualifying purchase at a participating retailer, the cash back amount is automatically credited to their Apple Pay account, providing an effortless and convenient way to save money on everyday purchases.

When you use Apple Pay to make a purchase at a physical store, you have the option to select the "Debit" option and enter your personal identification number (PIN) just as you would with a traditional debit card. This allows you to request cash back from the cashier, up to the maximum amount allowed by the store. It is important to note that not all stores offer cash back with Apple Pay, so it is always best to check with the cashier before completing your transaction.

One special cash-back scheme offered by Apple's own credit card, the Apple Card issued by Goldman Sachs, is named "Daily Cash." A portion of your purchase is returned to you as Daily Cash, which you may use right away for subsequent purchases or have placed into your Apple Cash account. Different categories have different daily cash rates, which are normally 1% for most transactions and 2% when using Apple Pay at specific retailers.

The process of earning cash back with Apple Pay is simple and straightforward. Users can easily set up their preferred payment method within the Apple Wallet app and ensure their card is eligible for cashback rewards. Once the card is linked to the Apple Pay account, users can make purchases at selected merchants by simply using their device to tap and pay. The cash back amount earned is typically a percentage of the total purchase price and varies depending on the retailer and promotion terms. Overall, the process of earning cash back with Apple Pay is designed to be user-friendly and seamless, providing an added incentive for users to utilize the contactless payment feature.

Cashback with Apple Pay offers users a valuable opportunity to earn rewards on their everyday purchases while enjoying the convenience and security of contactless payments. By linking their credit or debit card to their Apple Pay account and making purchases at participating retailers, users can easily accumulate cash back rewards that can be redeemed for future purchases or transferred to their bank account. This feature not only enhances the overall shopping experience for users but also encourages the adoption of digital payment methods in an increasingly cashless society.

Where can you get cashback with Apple Pay?

Using a cash-back credit card or debit card connected to your Apple Wallet at some well-known retailers that take Apple Pay may allow you to receive cash back using Apple Pay. These retailers include those below and many others:

• Acme Markets

• Acme Markets store

• Albertsons

• ALDI

• Bashas'

• BJ's Wholesale Club

• Costco

• CVS Pharmacy

• Duane Reade

• Food Lion

• Giant Eagle

• Hannaford

• Lucky Supermarkets

• Meijer

• Publix

• Safeway

• ShopRite

• Stop & Shop

• Target

• Trader Joe's

• Walgreens

• Wegmans

• Whole Foods Market

How to utilize Apple Pay cashback and redeem Daily Cash

Redeeming Apple Pay Daily Cash is a seamless process that allows users to easily access and utilize the cash rewards they have accumulated through their transactions. To redeem your Daily Cash, one must first ensure that their Apple Pay Cash card is set up on their device. This can be done by opening the Wallet app, selecting the Apple Pay Cash card, and following the prompts to set up the card. Once the card is set up, users can view their Daily Cash balance by opening the Wallet app and selecting the Apple Pay Cash card. From there, users can choose to transfer the Daily Cash to their bank account or use it towards a purchase. A few ways you can redeem Daily Cash include:

• Put it into a savings account with Apple.

• Put money onto an Apple Cash card.

• Use it as a statement credit to pay down the remaining amount on your Apple Card.

To transfer Daily Cash to a bank account, users can select the "Transfer to Bank" option within the Wallet app and follow the prompts to input their bank account information. Once the transfer is complete, the Daily Cash will be deposited into the linked bank account within 1-3 business days. Alternatively, users can choose to use their Daily Cash towards a purchase by selecting the Apple Pay Cash card as their payment method during a transaction. The Daily Cash balance will automatically be applied towards the purchase, reducing the total amount owed.

Overall, while you can get cash back with Apple Pay, it is important to be aware of the limitations and considerations that come with this feature. By educating yourself on how to use Apple Pay for cash back and understanding the policies of your bank and the store where you are making a purchase, you can make the most of this convenient and secure payment method. As technology continues to evolve, it is likely that more stores and banks will offer cash back with Apple Pay, making it an even more versatile and convenient payment option for consumers.