Five local banks, including 3 conventional and two operating in accordance with Islamic law, are ready to activate Apple Pay for their customers on the expected service activation day in Kuwait, starting from December 6.
The sources told a local Arabic daily that all Kuwaiti banks will not be able to activate the service on the launch day at once, and the banking ability to support the service for customers is likely to be limited to the five banks that are prepared their systems, while every bank that is not able to join on the launch day will be able to activate the service once its systems are ready and configure it to support cards issued by the bank to be able to participate in Apple Pay payments.
The sources stated that the “Apple Pay” service will include credit cards, debit cards and major prepaid cards, specifically related to salary and related to Visa and MasterCard, indicating that supporting all bank accounts and linking them to the service depends on the policy of each bank, as it may decide to activate it for the main card accounts, and not for the private ones or for a specific segment of customers.
The sources indicated that the spread of “Apple Pay” does not mean the displacement of the network of the shared automated banking services company “Knet”. The sources stated that enabling “Apple Pay” needs to enable the company’s platforms, whether for points of sale or e-commerce.
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