Kuwait's automated banking services company Knet to reduce fee for personal payments links

Reduce the fee for personal payments links by 40%

  
Hands of bank officer calculating loans. Image used for illustrative purpose.

Hands of bank officer calculating loans. Image used for illustrative purpose.

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KUWAIT CITY - The automated banking services company “Knet” has decided to reduce the fee for personal payments links that are carried out through messages, or what is known as “Payment Link” by 40%, in an effort to reduce the burdens of digital payment on the banks, as the party that bears the payment of this fee, reports Al-Rai daily.

The banking sources told Al-Rai that the fee for personal payment “links” has been reduced from 50 fils — which were collected for a single payment — to 30 fils, in an effort to enhance the digital payment system and to encourage banks to pump more money through such smart steps.

 
 

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