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K-Net Payment Gateway: Kuwait’s Leading Online Transaction Service

Category: Partners & Partnerships

K-Net Payment Gateway: Kuwait’s Leading Online Transaction Service
Mohab Partners & Partnerships 0

K-Net Payment Gateway: Kuwait’s Leading Online Transaction Service

Are you a merchant in Kuwait looking for a secure and efficient payment gateway to accept online payments? The solution is K-Net payment system, suitable for online retail businesses, operating in Kuwait. It is also the most popular gateway, with 71% people using K-Net as the APM. This payment system has also opened up a wide world of opportunities for online merchants, as you can now trade with more potential customers and get paid easily. Read on to learn more about K-Net electronic payment solution.

What is K-Net Payment Gateway?

The Shared Electronic Banking Services Company, better known as K-Net, came into existence in 1992. The company is jointly owned by 11 of Kuwait’s national banks. It began its operations in 1994 when The Kuwaiti Network – financial switch of Kuwait – was formed to facilitate hassle-free transactions.

K-Net payment gateway was introduced in 2004 as an online payment solution for private and public institutions. The payment gateway allows merchants to collect payments in exchange for trading products and services. The transactions happen over the internet in real-time. Currently, K-Net payment gateway processes only debit card payments.

How Does the K-Net Payment Gateway Function?

K-Net is a joint venture of the national banks of Kuwait. Apart from this, K-Net is associated with member banks that provide K-Net payment gateway services to their customers. As of now, K-Net accepts local debit cards issued by the member banks. To become a member bank, a bank has to undergo the certification process. Once the process is complete, a member bank has the rights to process payments initiated via K-Net payment gateway.

The payment gateway is developed for collecting online payments by using debit cards. The process is initiated and accomplished in a secure environment, maintained using Security Socket Layer (SSL) protocol. The payment solution integrates with the websites developed using web technologies like ASP, PHP, ASP.Net, and others.

What about the Security Aspects of K-Net Payment Gateway?

The transactions happening over K-Net payment gateway are secured with SSL protocol. The encrypted mechanism prevents any data breach and foils any hacking attempts. Moreover, in 2017, K-Net signed a deal with Gemalto, a global pioneer in digital security.

Gemalto is responsible for authenticating debit card transactions by generating and sending SMS one-time passwords (OTPs) to the users. This prevents any fraudulent attempts during the transaction process.

How to Apply for and Integrate K-Net Payment Gateway?

If you want to install K-Net payment gateway on your website, you need to fulfill the following criteria:

  • Obtain a business license to operate online retailing of products and services
  • Open a business account with a member bank
  • Secure your website with an SSL certificate
  • Sign a contract with the member bank to get a nomination
  • After getting the nomination, K-Net will provide plugins and necessary documentation for installing the payment gateway

You should note that transaction charges may vary from bank to bank. Further, K-Net payment gateway is solely meant for online debit card transactions. For credit card transactions, you should consult the bank.

Install K-Net Payment Gateway Now

For a retail business owner planning to venture into e-commerce or online trading of services, installing K-Net payment gateway is the most feasible option, as it ensures seamless, secure, and low-cost transactions. You will be able to attract more customers who are tech-savvy and use their mobiles for online shopping, as well.

6 years ago
Benefits of mada for merchants
Mohab Partners & Partnerships 0

Benefits of mada for merchants

All about mada and how it benefits online merchants

Saudi Arabia now has an advanced electronic payment network known as mada that works throughout the country and involves the use of a debit card, which can be used at ATMs, POS or point of sales as well as for online shopping! Those who have mada cards can use it to withdraw money from their bank accounts through ATMs, shop for goods and services online, and even pay utility bills. mada cards are issued by local banks in Saudi Arabia and come with the latest security features and value added services. The mada payment network connects with other major payment systems like MasterCard, American Express, GCC Net and VISA so that mada debit card holders can make cashless online transactions both locally and globally, seamlessly. Just like a regular ATM card, a mada card features a 16-digit number, CVV and expiry date.

mada is not just for consumers

The best thing about mada is that, it encourages people in Saudi Arabia to shop from local online merchants, as the latter can accept payments through this card easily. Rather, this card will be the primary mode of payment! If you are wondering how far the mada network is going to boost the growth graph for e-stores, here are some figures that will help. Currently, there are 16 local banks in Saudi Arabia that are issuing mada debit cards for use at POS, ATM as well as web stores. 29 million mada cards have been issued already and 22 million out of them work smoothly with international payment schemes like MasterCard and Visa.

mada and PayTabs

Being one of the leading online payment gateway services’ technology in the Middle East, PayTabs now supports mada debit cards that are used on e-stores, websites and merchant portals in Saudi Arabia. This ensures that online transactions are secure, fast and protected against frauds like identity thefts, phishing etc. Besides mada, PayTabs also lets merchants offer many other payment options to shoppers, making it easy for small businesses to grow.

PayTabs is enabling mada as a new accepted card scheme, just like VISA, American Express and MasterCard. This means that the customer will go through the same payment steps as before, and the checkout experience will be as smooth with a mada card as it is with a VISA or others.

What benefits does mada offer to merchants?

Accepting mada debit cards as the primary mode of payment on your website through PayTabs, has multiple benefits:

  • Your sales will receive a boost as more and more people in Saudi Arabia are embracing mada and carrying out their online transactions through this versatile debit card.
  • Shoppers will be able to make payments seamlessly and without any hassle, just like when they do with their regular debit or credit cards. By accepting mada as a payment, you will simply give them more flexibility and convenience when they are buying products or paying bills online.
  • Thanks to the special value added services that mada provides, you will gain more financial control over your business, and daily purchase volume will go up.
  • Human processes like bookkeeping, tracking daily inventories and revenues will become automated with mada, thereby reducing the risk of human errors.
  • You will be able to keep an eye on cash flow and all sales transactions with better ease and efficiency.

How should merchants get started?

As you are now aware of the many benefits that accepting mada cards on your website can bring you, here is what you have to do to get started with this process:

  • You will need an active account with PayTabs first, as this gateway ensures smooth, secure transactions as well as more growth opportunities for your business.
  • You will also need to have an active account with any of the partner banks in Saudi Arabia
  • A business or commercial license will have to be issued to you by Saudi Arabia.
  • Next, you will need to sign the Bank/mada agreement, as the banks and the mada payment network work together to offer you the many benefits mentioned above.
  • Finally, you can integrate mada service into your website and start accepting safe, simple and smart payments from mada cardholders.

Do note that this process can take anywhere from 5 to 7 working days. However, once it is set up, you will see significant improvement in website traffic and sales. So, choose PayTabs and mada together if you wish to stay ahead of competition in the cut-throat eCommerce landscape.

 

6 years ago
How PayTabs and its Ninja are redefining the landscape of online retail payments dramatically!
Mohab Partners & Partnerships 0

How PayTabs and its Ninja are redefining the landscape of online retail payments dramatically!

PayTabs is a highly secure and very well-designed payment platform that lets online merchants accept funds instantly within 24 hours. And that happens without the issues of hidden fees or high costs. You can seamlessly and conveniently accept payments from all major credit cards from all countries both via websites and mobile applications. Your website developers can make the most of PayTab’s state-of-the-art technology solutions which can be easily integrated with your platform to ensure a wonderful customer experience.

There are many advantages that PayTabs has which makes it the ideal payment platform.

  • Quick Integration – You can fully integrate PayTabs with your platform within 24 hours and start receiving payments online safely.
  • Perfect merge of Global and Local services – The gateway accepts payments in 168 currencies from all over the world and conveniently allows shoppers to pay in their local currencies.
  • All business models are supported – The platform is capable of supporting multiple types of platforms and business models across the globe. All customers thus receive payment gateway services as per their local requirements.
  • Quick fund deposit – You can trust PayTabs with your money and rest assured that the deposits will be transferred to you within two business days.
  • Anti-Fraud protection – PayTabs has an inbuilt double-layered fraud protection system which works hard to prevent stealing of financial information and data related to transaction history.
  • Compliance with international standards – PayTabs is compliant with PCI and DSS when it comes to processing card transactions to protect your payment information.

About Ninja

Developed by PayTabs, Ninja is a one of a kind referral program. It was created to help individuals like developers, freelancers, and even online merchants profit from an additional income. PayTabs as a leading payment gateway appreciates the needs of local entrepreneurs in emerging markets in North Africa, Middle East, and the Asia Pacific. Though its digital payment solutions are available around the globe, they are simple and secure enough to suit business needs in every market.

And the good news is that Ninja partners can share the PayTabs mission and vision to boost their business and income in a whole new way. If you have the ability to promote PayTabs’ reliable payment solutions to your network and earn extra cash along the way, sign up today for Ninja. It’s very simple and you will get started in no time.

Close look at the 4-step Ninja journey:

  1. Signup – Provide your name, contact details, address, a copy of your id, professional experience and the reason for your interest in becoming a PayTabs partner. Click on submit and you are done with this stage.
  2. Complete Training– PayTabs is going to provide you training on how to promote the payment platform to people and businesses you know.
  3. Refer Business– There are 49 line of businesses that PayTabs accepts. You can promote PayTabs among any of these businesses.
  4. Start earning money– Earn money as these businesses integrate PayTabs as their payment partner.

The benefits of being a PayTabs Ninja:

  1. Network partner – PayTabs aim is to build a network of partners to make cashless payments a more widespread occurrence.
  2. Referral program – When you refer businesses to start using PayTabs so that they accept payments through this gateway, you can earn from every transaction thereafter.
  3. Learning team – You can now improve your skills and gain more knowledge on online payments with free training offered by this program. You can access round the clock support from the PayTabs local team as well.
  4. Flexible environment – Now, you yourself can decide how to manage your own time, business and revenue channels from anywhere, and at any time, without the need to report to a boss. Get to work on your own terms easily.
  5. Targeted Industries–If you are wondering what kind of businesses you can refer to use PayTabs, the list is long and includes 49 different lines of businesses. From retailers to apparel boutiques, schools, hotels, or airlines, you can refer them all.

To find out more on Ninja: visit our page today!

7 years ago