KD 2.7 BILLION PAID THROUGH KNET IN SEPTEMBER

  • 17/10/2022

Kuwait City: Electronic payment operations through Shared Electronic Banking Services Company "Knet" increased significantly last September, reaching 63 million transactions, a 21.9 percent increase over the corresponding month in 2021, and a 63.4% increase over September 2020. The value of electronic payment operations reached 2.7 billion dinars last September, representing a 15.2 percent increase over the same period in September 2021, while the value of operations increased by 46.7 percent over the same period in 2020. 


Furthermore, the number of electronic payment platforms reached 95,197 thousand in September, a 13% increase over the same period in 2021, and a 20.3% increase over September 2020. During September 2022, the volume of operations increased by 63 percent through individual points of sale, 27 percent through the electronic payment gateway, 5 percent through ATMs, and 5 percent through the government electronic payment portal.

In contrast, the value of operations increased by 39 percent through individual points of sale, 46 percent through the electronic payment gateway, 10 percent through ATMs, and 4 percent through the government electronic payment portal in September. 

During September 2022, the growth rate of payment stations through individual points of sale reached 88 percent, 3 percent through the electronic payment gateway, 1% through ATMs, and 8% through the government electronic payment portal. In September 2022, the average daily operations through individual points of sale reached 1.319 million, up from 1.073 million in September 2021 and 784,000 in September 2020. 

In September 2022, the average daily transaction through the electronic payment gateway was 575,000, up from 460,000 in September 2021 and 334,000 in September 2020. In September 2022, the average daily transaction through ATMs reached 109 thousand, 107 thousand, and 105 thousand, respectively, and the average daily transaction through the government electronic payment gateway increased from 62 thousand in September 2020 to 95 thousand in September 2022. The daily average of cash withdrawals from ATMs was 9.1 million dinars.

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