Kuwait - Sharikat Mubasher: Kuwait International Bank (KIB) launched the BuyNow application, the first buy now, pay later (BNPL) service offered by a bank in Kuwait, providing a seamless digital experience that combines shopping, flexible payment options, and financing solutions in a single application.

The launch of BuyNow is part of KIB’s new KIB Now strategy to enhance the customer experience and expand its ecosystem of digital solutions, the bank said in a recent press release.

BuyNow marks the second digital platform launched by KIB within a month, following the recent introduction of DriveNow. Together, the new applications underscore KIB’s accelerated rollout of digital experiences designed to address a broad range of customer needs.

BuyNow features two core services: Split and Finance. The Split service enables eligible customers to purchase products and services worth up to KD 500 and repay the amount in four equal monthly installments at 0% profit, with no fees. The Finance service allows customers to finance purchases above KD 500 and up to KD 25,000, with 0% profit and no salary transfer requirement. Repayment periods start from three months, subject to customer eligibility, with a minimum monthly installment of KD 20

Othman Tawfeqe, general manager of retail banking at KIB, said: “The launch of BuyNow marks another step forward in enhancing what we offer our customers. The app brings shopping, payment options, and financing together in one experience, giving customers greater flexibility in managing their purchases in the way that suits them best. We were also keen to ensure that the experience is clear and simple, while delivering practical value across a range of everyday uses.”

Moreover, BuyNow enables customers to browse products and services from different participating brands and partners, compare available options, and benefit from offers featured on the application. Categories include automotive, healthcare, education, furniture, electronics, and gaming. Customers can also track their financing applications and payments through the app, all in one place.