KD 18 billion spend through KNet outlets in first ten months of 2021

Wednesday, December 1, 2021

Citizens and residents of Kuwait spent about KD 18 billion through KNet outlets, approximately KD 9.5 billion through point-of-sale devices, and about KD 8.5 billion through electronic payments and cash withdrawals from ATMs during the first ten months of 2021, the Chief Operating Officer of The Shared Electronic Banking Company (KNet) Dalal Al-Yaqout said.

The total payment transactions recorded by KNet during the first ten months of this year amounted to about 420 million, including 282 million payment transactions via point of sale devices, and about 138 million transactions through electronic payments and cash withdrawals from ATMs.

More than 940,000 operations are conducted through points of sale daily at an average rate of 28.2 million transactions per month. Their value exceeds an average of one billion dinars per month. During the peak time, more than 89,000 transactions are conducted per hour through point of sale devices inside Kuwait. The value of payment transactions registered with KNet during the month of September amounted to about one billion dinars.

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