Enabling the collection of payments through a smart device app

Kuwait, 4 September 2023: Kuwait International Bank (KIB) announced offering a digital point of sale service, SoftPOS, for its business-owning customers. The new service enables them to collect payments using an innovative app for smart devices, developed by the Shared Electronic Banking Services Company (KNET) specifically for this purpose. 

Commenting on the service, Abdullah Mubarak AlShatti, Head of Merchants, Retail Banking Department, said: “As one of the most advanced payment technology solutions, the SoftPOS service reflects KIB’s commitment to keeping up with the latest digital innovations. This comes as part of the Bank’s strategy to expand its electronic banking services and products, meeting all its business-owning customers’ needs in a comprehensive, flexible, and safe manner.” 
AlShatti added that this innovative solution transforms an Android smart device into a digital point-of-sale terminal by simply installing the 'SoftPOS by KNET' app. The app allows the business owner to make use of the advanced electronic payment mechanism and collect payments directly, swiftly, easily, and safely. As such, the solution saves time and energy when it comes to low-cost, high-density business activities, including barbershops and hair salons, taxis, delivery services, small enterprises, tailors, and more. 

Commending the efforts exerted by KIB to support innovative digital solutions that reduce reliance on cash, in line with Kuwait Vision 2035, Al Shatti pointed out that SoftPOS is considered a low-cost service compared to traditional point-of-sale terminals. Furthermore, it can be activated on multiple smart devices belonging to the business owner. 

It is worth noting that KIB constantly strives to provide an advanced digital banking experience that suits customers’ lifestyles and contributes to the growth and success of their businesses. The Bank continues its journey of innovation and change by following a strategy focused on offering a more advanced and luxurious experience under its main slogan, ‘Bank for Life’.