Gulf Bank first to launch POS Terminals that accept contactless and Near Field Communication

Gulf Bank announced today the launch of Point of Sale (POS) Terminals with the latest technology that accept Near Field Communication (NFC) payment through all cards types, making it the first bank in Kuwait to launch this service. The new technology is being launched in cooperation with KNET and MasterCard and will be available at Costa Coffee outlets across Kuwait starting September 1 2015. We will slowly roll out upgrading this technology to the other outlets in Kuwait.

Near Field Communication technology (NFC) is a technology that enables customers to perform payment methods in which a chip installed in debit and credit cards transmits a radio signal when it is waved or tapped at the POS terminal, resulting in faster and easier payments.

Gulf Bank has chosen to launch this advanced method for the first time in Kuwait in order to facilitate the payment acceptance process across the merchants’ outlets and customers’ purchasing process as well. It also highlights the bank’s acknowledgement of the importance of technology and speed of transactions to people nowadays, and the evolvement of the banking industry worldwide.

Cesar Gonzalez-Bueno, Chief Executive Officer at Gulf Bank 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. This payment method makes purchases quicker and clients move faster.

“At Gulf Bank, we are continuously searching for unique ways that assist customers to an easy and fast banking experience; we aim to provide customers with the newest technologies available in the banking industry locally and internationally to meet their needs and demands.”

The launch of the POS Terminals with NFC technology represents a very big and important step forward and underscores Gulf Bank’s commitment to the goal of providing a secure, easy, and fast purchasing process to serve its loyal customers. 

Haamed Al Fulaij, General Manager of Costa Coffee, commented “Costa Coffee recognizes the importance of embracing new technologies and we are delighted to welcome NFC technology as a new and convenient way for our customers to pay for their coffee. 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.

Pankaj Kathuria, Area Head for Southern Gulf, MasterCard commented: “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. MasterCard recognizes the importance of bringing communities the latest payment technology, and we are working with partners like Gulf Bank to provide consumers and businesses with new, innovative payment solutions to make their lives easier.”

For more information customers can visit one of Gulf Bank’s 58 branches, or contact its Customer Contact Center on 1805805 for assistance and guidance.  They can also log on to www.e-gulfbank.com, Gulf Bank’s website.