Kuwait Launches WAMD Instant Payment System, Onboarding 30% of Banked Population Within Three Months

Kuwait has launched WAMD, the country's first real-time instant payment system, onboarding approximately 30% of the banked population within three months of going live.

Approved by the Central Bank of Kuwait and operated by KNET, the national payment switch, WAMD enables account-to-account money transfers using only a mobile phone number. The system operates around the clock and supports instant transfers across all participating Kuwaiti banks, eliminating the delays and complexity associated with traditional interbank transfers.

The rapid adoption rate is notable by regional standards. WAMD processed over one million transactions within its first year, driven by the simplicity of the user experience and the system's integration into existing mobile banking apps offered by Kuwaiti banks. Users register their mobile number as a payment alias and can send or receive funds instantly without needing to share bank account details.

The system was built on infrastructure provided by ACI Worldwide, a global payments technology company that has deployed similar instant payment systems in markets across Europe, Asia, and the Americas. ACI's platform provides the real-time processing, fraud monitoring, and settlement capabilities that underpin the WAMD service.

Kuwait's launch of WAMD brings the country into line with other Gulf states that have implemented or are developing national instant payment systems. The UAE's Aani platform and Saudi Arabia's Sarie system have set regional benchmarks for real-time payments, and WAMD positions Kuwait as a participant in the broader regional shift toward instant, digital-first payment infrastructure.