Digital payments fuel Kuwait spending surge

KUWAIT CITY, Aug 1: Data released by the Central Bank of Kuwait showed an increase in consumer activity in the local market during the first half of 2026, driven by the growing use of electronic and digital payment methods, reports Al-Seyassah daily. Total spending by citizens and residents rose by 5 percent, equivalent to KD 1.309 billion, reaching KD 27.92 billion compared to KD 26.59 billion during the same period in 2025. The growth was not limited to spending value alone but the number of transactions also increased, reaching 809.57 million transactions compared to 718 million transactions in the first half of last year. This represents an increase of 91.57 million transactions, or a growth rate of 12.7 percent.

The value of spending was distributed between KD 14.034 billion through 392.3 million transactions in the first quarter and KD 13.888 billion through 417.26 million transactions in the second quarter. Purchases made through point-of-sale (POS) terminals accounted for the largest share of total spending, reaching KD 9.462 billion through 505.04 million transactions conducted both within and outside Kuwait. E-commerce transactions totaled KD 8.533 billion across 186.98 million transactions, reflecting the continued growth of online shopping and digital payments. Cash withdrawals made through ATMs reached KD 4.369 billion, distributed across 31.98 million transactions during the first half of the year.

The instant payment service “WAMD” continued to record strong growth since its launch. The value of transactions executed through WAMD increased by 52.3 percent, reaching KD 5.557 billion compared to KD 3.649 billion during the same period in 2015, representing an increase of KD 1.908 billion. The number of transactions processed through the WAMD service also witnessed significant growth, rising to 85.56 million transactions compared to 47.91 million in the first half of last year. During the first quarter, WAMD recorded transactions worth KD 2.646 billion across 40.38 million transactions. This figure increased to KD 2.91 billion through 45.18 million transactions in the second quarter.