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Local banks agree for KD 25 ‘contactless’ purchase

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Banks to direct ‘KNET’ over new withdrawal service

KUWAIT CITY, March 9: The local banks have agreed with the Central Bank of Kuwait to allow customers to pay from their bank accounts, without the need to pass their cards on POS devices, and without entering their secret numbers, for up to 25 dinars per transaction, reports Al- Rai daily.

The sources indicated that the banks will direct the joint automated banking services company “KNET” regarding the application of the new withdrawal service through “contactless” point of sale devices, noting that this comes within the precautionary measures that banks follow in light of the increasing spread of corona virus globally, and as an additional measure to provide various necessary services and ensure the infection does not spread.

The sources said that the currently allowed ceiling for withdrawing from bank cards without touching POS devices is 10 dinars, explaining that the “contactless” technology reduces the transaction time and limits the transfer of the card from one hand to another.

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