Fintech & Ecommerce

Mastercard and Google Launch Google Pay in Kuwait

Mastercard joined Google to strengthen digital payment capabilities in Kuwait with Google Pay offering

Mastercard and Google Launch Google Pay in Kuwait

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The global payment provider Mastercard has collaborated with Google to launch Google Pay in Kuwait. National Bank of Kuwait (NBK) has become one of the first financial institutions in the country to introduce Google Pay for its customers, enabling NBK cardholders to use simple and secure contactless payments and digital card storage on both Android and WearOS devices.

The Central Bank of Kuwait recently granted several banks special licenses that enable these institutions to activate Google Wallet in the country. People who store their card information in Google Wallet, along with loyalty cards, boarding passes, event tickets and more can now avail of Google Pay.

Customers whose banks have already enabled the function can pay with their Android phones or supported Wear OS devices in stores, as well as use Google Pay to make payments online and in-apps. Transactions with Google Pay are secure and private, made with a virtual card number without sharing the real credit card data with the business.

The launch of the service aligns with the Kuwait Vision 2035 “New Kuwait” and the country’s ongoing digital transformation journey. The planned governmental agenda aims on transforming Kuwait into a financial and trade hub regionally and internationally, and making the country more attractive to investors.

Kuwait’s national development plan envisions an essential structure to cultivate a business friendly environment. Besides, it is linked to international goals and factors such as United Nations Sustainable Development Goals (SDG’s) 2030 agenda. Previously, the country has also introduced Samsung Pay and Apple Pay.

Meanwhile, Mastercard has also made a worldwide pledge to bring 1 billion people and 50 million micro and small businesses into the digital economy by 2025. Therefore, the launch of Google Pay in the new market is another step along this journey.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.