KNET introduces the SoftPOS App based on M4Bank.SoftPOS to enhance digital payment services in Kuwait.

13 Dec 2023

KNET reveals the launch of SoftPOS App, targeted at business owners, aligning with technological advancements in the Fintech industry globally. This move is in line with KNET's mission to enhance the e-Banking experience, fostering a societal shift toward digital transformation. The solution is created using m4bank.SoftPOS technology.

The SoftPOS App aims to reduce cash dependency by promoting secure electronic payment channels, contributing to KNET's strategy of expanding payment infrastructure. Mr. Esam Al-Kheshnam, KNET's CEO, notes how the app transforms Android devices with NFC into KNET Point-of-Sale terminals.

Addressing businesses without POS devices, the SoftPOS caters to low-value, high-volume transactions in sectors like barbershops, taxis, and small businesses. Merchants can enlist the service through their respective banks, with procedures varying.

Al-Kheshnam underscores KNET's strategic alignment with Kuwait's Vision 2035, fostering financial inclusion, entrepreneurship, and innovative digital initiatives. The SoftPOS app acts as a catalyst for Kuwait's digital transformation within the Fintech landscape. Established in 1992, KNET remains a pivotal player in Kuwait's electronic payment services, dedicated to advancing the payment industry's infrastructure.