K-Net to implement mobile verification for online payments
Tuesday, January 3, 2017
From Jan 1, 2017, Kuwait Shared Electronic Banking Services Company (K-Net) started activating a new customer verification technology will be used by adding more security elements and a special verification code to transactions worth KD 25 and higher. KNet CEO Abdullah Al-Ajmi said customers will no longer be able to use their cards for online shopping or paying bills unless they have their information updated with their banks, especially their mobile phone number, on which the bank will text clients a secret onetime code. Ajmi said 230 million cash withdrawals and online shopping and POS transactions were made in 2016, with a total value of KD 15 billion.
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