KNET General Assembly Session 2018

Chairman of the Board, Mohammad Al-Othman, announced that KNET recorded outstanding success in 2018, with a growth of 17% in online payments (307.4 million purchases), in comparison to the previous year. As a result, the value of online payments totaled KD 17.8 billion. More than 63,000 POS devices were deployed, 95% of which support the GPRS feature. Furthermore, the ‘K-tap’ feature was set up on more than 41,700 POS devices in the local market. KNET monitors the operation of 798 ATMs. Cash withdrawals reached 71.4 million in number, with a value of KD 6.7 billion. Additionally, in 2018, online payments (through Payment Gateway) was recorded as 36.7 million (purchases) portraying a growth of 41.6%. CEO of KNET, Abdulla Al-Ajmi, affirmed the company’s continuous cooperation with the local banks to successfully promote usage of the services.