Retail Payment System (Knet) in Kuwait is a payment system approved by Central Bank of Kuwait
The Shared Electronic Banking Services Company (K-net) was established in 1992.
The company is owned by the following banks:
- National Bank of Kuwait
- Commercial Bank of Kuwait
- Gulf Bank
- Al Ahli Bank of Kuwait
- Ahli United Bank
- Kuwait International Bank
- Bank of Bahrain and Kuwait
- Kuwait Finance House (Baitek)
- Burgan Bank
- Boubyan Bank
- Warba Bank
The board of management consists of members to be nominated by the owning banks; The Chairman and Deputy Chairman are selected based on unanimous vote by the members of the board.
The company started to provide its services in 1994, which include
- The Kuwaiti Network.
- Integrated Point of Sale Service.
- Off-Site ATM’s.
- Connection with the GCC.
- The Electronic Payment Gateway Project.
- Cheque book printing.
- E-Gov services.Point of Sale Service