Payments/KW
Kuwait
ISO KW · 3 schemes
Summary
- WAMD is the new instant payment system (2025)
- K-Net operates as national payment gateway
- CBK supervises payment infrastructure
- QR code payments being developed with K-Net
- Extended KASSIP hours to 11:15 PM (2025)
Banking landscape
Central Bank
- Name: Central Bank of Kuwait (CBK)
- Website: https://www.cbk.gov.kw/
- Role: Monetary policy, payment systems supervision
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | National Bank of Kuwait | Private | NBK Mobile |
| 2 | Kuwait Finance House | Islamic | KFH Online |
| 3 | Burgan Bank | Private | Burgan App |
| 4 | Gulf Bank | Private | Gulf Bank App |
| 5 | Commercial Bank | Private | Al-Tijari App |
Market Structure
- NBK: Largest conventional bank
- KFH: Largest Islamic bank
- K-Net: National payment gateway
- Weyay Bank: First digital bank
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| WAMD | K-Net/CBK | Instant payment | Active (2025) |
| KASSIP | CBK | Settlement | Active |
| K-Net | K-Net | Card switch | Active |
| RTGS | CBK | Large value | Active |
WAMD Instant Payment System (2025)
- Account-to-account transfers
- Phone number identification
- K-Net facilitated
- CBK supervised
WAMD Early Adopters
- National Bank of Kuwait (NBK) - June 30
- Kuwait Finance House (KFH)
- Weyay Bank (first digital bank)
KASSIP Operating Hours (2025)
- Extended to 11:15 PM (regular days)
- Weekends and holidays included
- Previous: 7:15 PM
- Improved customer service
QR code standards
Current State
| Attribute | Value |
|---|---|
| Status | Under development |
| Lead | CBK with K-Net |
| Goal | All POS terminals |
| Timeline | Ongoing |
CBK QR Development
- Cooperation with banks
- K-Net partnership
- All POS availability target
- In development phase
Bank-Specific QR Services
| Bank | Service | Features |
|---|---|---|
| Al-Tijari | T-Pay | QR pay/collect |
| NBK | QR Cash Withdrawal | ATM QR |
| NBK | VIBANs + APIs | Fintech services |
T-Pay (Al-Tijari Bank)
- QR code technology
- Pay to Al-Tijari customers
- Collect from customers
- First mover in Kuwait
NBK Fintech Services
- Virtual IBANs (VIBANs)
- Secure APIs
- QR Code Cash Withdrawal
- Bin Sponsorship
- For licensed e-wallet providers
Mobile payment apps
| App | Provider | WAMD | QR |
|---|---|---|---|
| NBK Mobile | NBK | Yes | ATM QR |
| KFH Online | KFH | Yes | Limited |
| Al-Tijari | Commercial Bank | - | T-Pay |
| Weyay | Weyay Bank | Yes | Growing |
| Gulf Bank | Gulf Bank | Yes | Limited |
NBK Mobile Features
- WAMD instant transfers
- QR Code Cash Withdrawal
- Fintech API integration
- Digital services
Weyay Bank
- Kuwait's first digital bank
- WAMD integrated
- Mobile-first approach
- Innovative services
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| WAMD | Instant payment | K-Net | New (2025) | wamd |
| T-Pay QR | Bank QR | Al-Tijari | Bank-specific | — |
| K-Net | Card switch | National | Universal | — |
Sources
- CBK - Digital Services
- CBK - Payment Systems Development
- CBK - Payment Systems Intro
- CBK - E-Payment Services
- Fintech Futures - WAMD Launch
- TechAfrica - NBK Fintech
- CBK - Stability Event
- CBK - Ways of Payment
- Google Play - CBK Mobile
- Commercial Bank Kuwait - T-Pay
Full country report
Schemes
Standards
Primary · 1
Mentioned · 2