CBK sets six month due for transfer of Apple Pay payments from MasterCard to KNET

  • 04/10/2023

The banks plans to ask KNET to replace about one fifth of the current outdated Point of sale devices. These devices are currently operating on outdated technology networks, thus limiting their ability to facilitate rapid transactions, especially those that rely on 3G/2G technologies.

Early estimates from credible sources suggest that as many as 20,000 Point of sale devices are still using outdated networks and could be facing obsolescence in the near future as a result of this change. The CBK has recently mandated that all customer payments processed through the "Apple Pay" service from the "MasterCard" network must be transferred to the "KNET"  within six months.

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