About
KNET is Kuwait's national debit-card switch and online payment gateway, run by The Shared Electronic Banking Services Company, founded in 1992 with the support of Kuwait's local banks. It links the member banks' debit cards, ATMs and point-of-sale terminals into one domestic network. Online, the shopper is redirected to a KNET-hosted page to pay with a debit card from one of the member banks; payments are in Kuwaiti dinars only and are captured immediately, and a KFAST option saves card details for repeat use. In 2024 KNET reported 20% more POS transactions and 13% more online-gateway transactions than in 2023.
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