Middle East

Citizens and residents spent 27 billion KD through K-Net service in 2021

Adel Al-Majed, Chairman of the Board of Shared Automated Banking Services Company’Knet’, is making a big difference by continuing to offer all electronic payments to overcome the challenges and challenges that arose during the Corona pandemic. He said he played a role. service.

Al-Majed said yesterday at the company’s general meeting that Knet continues to update and develop its network to support the largest number of merchants and customers during the pandemic.

He coordinated with Kuwait Bank to expand the use of services in banking activities as he helped bring many electronic payment services and solutions to market in 2021 to combat and mitigate the negative effects of the pandemic. I pointed out.

Abdullah Al-Ajmi, CEO of Knet, showed that a general indicator of the performance of electronic payment operations in 2021 increased by 46%, achieving approximately 558 million payment transactions. That was $ 21 billion in electronic payments and about 27 billion dinars. This means that 80% of the transactions were done without cash.

He pointed out that Knet worked on building a new strategy for the company for five years. It has been approved and includes three key axes related to the development of current services in terms of devices and new payment methods, developing it with company restructuring and human and technical resources.

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https://www.timeskuwait.com/news/kd-27-billion-spent-by-citizens-residents-through-k-net-services-during-2021/ Citizens and residents spent 27 billion KD through K-Net service in 2021

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