NBK introduces ‘WAMD’ instant payments service on its mobile banking app – TradingView News

• Al Mutawa: NBK is a pioneer in providing advanced solutions that strengthen its leadership position in the payments space

National Bank of Kuwait (NBK) is always striving to enhance its digital services provided to its customers through the NBK Mobile Banking app. In this context, the bank announced the introduction of Instant Payment Service (WAMD) through the app from June 30, 2024 to ensure smooth and hassle-free money transfers.

The service is part of K-Net’s implementation of a new domestic account for settlements in the instant payments system in Kuwait under the supervision and supervision of the Central Bank of Kuwait (CBK).

The Instant Payments System (WAMD) adds value and quality to the country’s payment infrastructure capabilities. It also serves as a secure and advanced payment option that meets the needs of various customer segments while advancing Kuwait’s digital transformation by increasing the volume of electronic financial transactions.

By introducing this service to its mobile banking app, NBK aims to achieve higher levels of efficiency, which will translate into greater customer satisfaction, as well as provide a reliable and secure service (users require a verification code when registering for the service).

The instant payment service to be provided on the NBK Mobile Banking App offers an easy way to transfer money as customers only need a valid mobile number of the recipient to send money. It also ensures simple transactions as customers must enter the recipient’s mobile number, transfer amount, destination, as well as any other notes, and accept the terms and conditions before executing the transaction.

To use the WAMD service via the NBK mobile app, a customer must register for the service and link a single bank account to it in order to send, receive and request money transfers.

Commenting on the launch of the service, Abdullah Al Mutawa, Head of Funds Transfer and Wealth Management Operations at the National Bank of Kuwait, said: “NBK has been a pioneer in adopting the most advanced services that reinforce its leadership position in providing the latest digital banking solutions for instant payments in Kuwait.”

“We strive to keep pace with our customers’ ever-changing needs and meet their growing expectations. We also strive to meet their preferences as part of our commitment to delivering top-notch and highly advanced products and services,” he added.

Through the NBK Mobile Banking App, NBK aims to offer customers a secure platform to conveniently manage their finances at any time. This service facilitates a wide range of banking activities, including opening new accounts, monitoring account and credit card transactions, accessing accumulated NBK miles and NBK rewards program points, paying credit card dues, making electronic bill payments, locating the nearest NBK branches , ATMs and Cash Deposit Machines in Kuwait, requesting account statements, updating personal details, as well as toll-free telephone numbers to call when abroad to contact the bank for assistance/enquiries.

Customers can easily download the NBK Mobile Banking app, which is currently available on various platforms including App Store, Google Play and Huawei AppGallery.

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