Kuwait International Bank (KIB) has announced a strategic memorandum of understanding (MoU) with PayTabs Kuwait, part of the award-winning PayTabs Group in the MENA region. This partnership is set to enhance KIB’s offerings by providing a suite of customized solutions tailored to meet the specific needs of merchants and business owners, facilitated through a dedicated referral program.
The collaboration underscores KIB’s commitment to expanding its customer base and providing businesses across various sectors with advanced payment solutions, contributing to Kuwait’s economic growth and fostering digital transformation.
Anwar Al-Qenaei, General Manager of PayTabs Kuwait, expressed his excitement about the partnership, stating, “This collaboration represents a significant milestone for both PayTabs and KIB, as we unite to provide innovative digital payment solutions that empower businesses to thrive in the increasingly digital world.”
As part of this strategic initiative, PayTabs Kuwait will refer merchants to KIB, enabling businesses to leverage seamless, efficient payment solutions that simplify transactions and settlements. This agreement targets businesses in Kuwait seeking secure payment solutions and aims to help streamline financial operations with ease and efficiency. The partnership is also designed to support entrepreneurs and small-to-medium-sized enterprises (SMEs) in Kuwait, allowing them to adopt innovative digital payment solutions that enhance their financial operations and grow sustainably by establishing an online presence.
Mohamed El-Shareef, General Manager of the Digital Innovation and Data Intelligence Department at KIB, commented on the MoU, saying, “We are thrilled to sign this MoU with PayTabs, enabling us to expand our services and offer secure, comprehensive payment solutions that elevate merchants’ experiences. This agreement aligns with our strategy to provide innovative digital banking services that meet our customers’ diverse needs in an ever-evolving business landscape. It also aligns with our vision of becoming a leader in the domestic market, strengthening our role in supporting national economic growth and achieving sustainable development.”
This MoU marks a key milestone in KIB’s strategy to expand its digital services, demonstrating its ability to develop advanced digital payment solutions and reaffirming its commitment to meeting the needs of its commercial customers, while offering them an exceptional banking experience.
