Knet Reduces Fee For Personal Payments Links By 40 Percent

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 percent, in an effort to reduce the burdens of digital payment on the banks, as the party that bears the payment of this fee.

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.

The Knet officials made the decision based on the fact that the company wholly owned by the banks still records, according to the new regulation, an appropriate profit margin, especially if it is measured by the cost of carrying out personal payments through links.

 

SOURCE : TIMESKUWAIT

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