Kuwaiti Fintech Landscape Gets a Boost with New E-Payment Providers

Kuwaiti Fintech Landscape Gets a Boost with New E-Payment Providers

The Kuwaiti financial sector is set for a surge in innovation with the recent approval of five new fintech companies by the Central Bank of Kuwait (CBK). These companies will offer a wider range of electronic payment solutions, fostering a more dynamic and convenient financial ecosystem for Kuwaiti consumers and businesses. The newly approved firms include Myfatoorah and Tap Payments, which will provide online transaction services. Payzah […]

via Kuwaiti Fintech Landscape Gets a Boost with New E-Payment Providers

The Kuwaiti financial sector is set for a surge in innovation with the recent approval of five new fintech companies by the Central Bank of Kuwait (CBK). These companies will offer a wider range of electronic payment solutions, fostering a more dynamic and convenient financial ecosystem for Kuwaiti consumers and businesses.

The newly approved firms include Myfatoorah and Tap Payments, which will provide online transaction services. Payzah and Kashier, on the other hand, have been granted licenses to operate e-payment and settlement systems. Additionally, K-Net, a well-established player in the Kuwaiti digital payment landscape, has received CBK registration to operate digital payment system services.

This expansion comes amidst a backdrop of flourishing e-commerce activity in Kuwait. Consumers are increasingly embracing contactless payments, driven by the