Kuwait-based Gulf Bank has introduced contactless point of sale (POS) terminals that accept Near Field Communication (NFC) payment through all cards types.

The bank has collaborated with electronic banking services company Knet and MasterCard to launch the new technology.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The service will initially be available at Costa Coffee outlets across Kuwait, with plans to launch it to other outlets in the country soon. It will facilitate the payment acceptance process across merchants’ outlets and customers’ purchasing process as well.

NFC technology allows customers to make payment through a chip installed in debit and credit cards, which transmit a radio signal when waved or tapped at the POS terminal, resulting in faster and easier payments.

The launch is part of the bank’s commitment to provide a secure, easy and fast purchasing process for its loyal customers.

Gulf Bank CEO Cesar Gonzalez-Bueno said: "The launch of the new POS Terminals with NFC technology reflects our utmost concern to facilitate customers purchasing process while meeting worldwide payment standards."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Costa Coffee general manager Haamed Al Fulaij said: "This collaboration with Gulf Bank and shift to NFC technology provides our customers with an almost instant payment method, a way to cut wait times, and ultimately speed up service.

MasterCard Southern Gulf area head Pankaj Kathuria said: "We are excited to be a part of the first ever NFC terminal rollout in Kuwait – a huge step in creating simpler and faster payments in the market."