The Shared Electronic Banking Services Company (KNET) Knet securing E-payment for EGOV November 21, 2015
Knet 2 The Shared Electronic Banking Services Company (Knet) was established in 1992. Knet Established as a Local Switch to serve the Kuwaiti Banks in processing local e-payments.
Knet Services TimeLine 3 1995 POS Service Launch & First Offsite ATM 1992 Knet Established 2010 Full EMV First in ME 2008 Knet Sign Tasdeed with MOF 2004 Knet Launch PG Service 1997 GCC Net - ATM 2015 Growth 2012 Kuwait E-Award 2011 PCI Certified First in ME
Knet Today 4 11 Local Banks 45,000 + POS 1500 + ATM 700 + e-com merchants 5 GCC Switches + 30 Gov. Agencies 7 Foreign Banks
Knet offsite ATM s 5 In 1995 Knet Deployed first Offsite ATM s Process 1.75 Million Transaction per Month 600 + ATM in the Market (Lobby,TTW,Drive Thru) Knet Market share in ATM business is + 30% In 2009 Offsite ATM Driving Service launched for different banks. ATM supports (Multi currencies,deposits Etc)
Knet POS 6 500,000 + Transactions/Day 3 brands with different models. 45,000 + POS Terminals in the local market 14 Million Transaction/Month 45,000 Transaction/Hour (Peak Time) Knet Lunched POS Service in 1995 and become the preferred payment tool in the Market.
Payment Gateway - Kpay 7 Kpay is a fast Growing channel All Debits transactions Knet Launched its Kpay service in the year 2004 as a new payment method. Kpay allows companies, Merchants & Government to collect funds for their products and services over the Internet. Knet is recording +1.4 Mil/month Transactions
GCC Net 8 In 1997 Knet has engaged with other GCC Switches and established ATMs connection, offering cash withdrawal in the local currency & balance inquiry, to local Banks Debit Cardholders when visiting the GCC countries using Central Bank s Rate 7000 Transactions Average Daily Transactions trough GCC net (POS and ATM) 167,000 Kuwait card holder visit GCC Service Availability in all GCC countries. In 2014 GCC POS Project have been launched.
Bill Payment service though Knet
New Business Opportunities Telecom Cash Transactions (around KD 30 Million) Requested By Member Banks Requested by Service Providers Like Government. & Telecom E-Gov. Agreement
Bill Payment Solution Architecture BBK NBK KFH BOUBYAN KIB CBK Member Banks AHLI GBK WARBA UTILITY PAYMENT BRIDGE BILLERS BB AHLI UNITED
Why Knet? 12 Leadership Knet is at the vanguard of e-payment, POS & ATM management services in Kuwait and GCC. And being in a position that connect all local banks in Kuwait in a single hub. Innovation Knet is keen to demonstrate a dynamic approach to our service provision, offering clients all evolving technology and solutions as they materialize. Quality Banks Customs & Merchants service is at the forefront of our Knet s philosophy it s an assurance we make to every Bank clients & Merchants. Knet Help desk Serve the Banks Clients & Merchants 24/7 through Knet Call center. Security Knet ensure secure and uninterrupted services to its customers, Knet is a PCI DSS & EMV Certified.
Why Knet 13 Secure payment Knet network forcing internal security measures and standard ( local banks, GCC,..Etc ) Knet is following the highest international standard in the payment industry ( PCI DSS, ISO, EMV,..).
14 Knet is % 100 equipped with EMV technology ( chip card ) as per Central Bank of Kuwait regulation and mandates. Knet is certified as PCI & PCI DSS Pin where it is granted for financial institution that apply the highest standards and mandates in the industry. ISO certification.
What is PCI compliance Payment card industry (PCI) compliance is adherence to a set of specific security standards that were developed to protect card information during and after a financial transaction. PCI compliance is required by all card brands.
The 6 Main Requirements of PCI Compliance NETWORK SECURITY DATA PROTECTION VULNERABILITY MANAGEMENT ACCESS CONTROL MONITORING AND TESTING INFORMATION SECURITY
What is PCI DSS? PCI DSS stands for Payment Card Industry Data Security Standards PCI DSS compliance aims to ensure that the cardholder information is always stored, processed and transmitted securely
What is PCI PIN? PCI PIN deals with the secure management, processing and transmission of PIN data.
Why do we need to be PCI compliant? With data security compromises on the rise, it is more important than ever to take measure to safeguard our customers and our business. 70% of all database breaches are internal. Any business that stores, processes or transmits any cardholder data should achieve PCI compliance In our line of business, these security requirements are the minimum standards required by Acquirers, Third Party Agents.
Knet internal security measures. 20 Knet is following the most secure standards in the payment industry. Each Participating Bank must provide sufficient security controls and procedures to ensure an acceptable level of integrity of its computer systems, processed information and data generated by those systems. Each Participating Bank will be required to provide assurance of adherence to these standards prior to live participation. participating merchants is advised to adopt industry Best Practice standards in relation to the storage and handling of confidential cardholder, merchant and transaction data
21 Regular monitoring and audits of such parties in relation to security and data integrity controls and procedures should be performed to insure the adherence to the security measures and controls. All Knet transactions are subject to on-line authorization by the issuer (supported by the validation of encrypted PIN data). Card and Cardholder present at the time of the transaction. Dispute to be resolved by Knet.
What Is Smart Card & EMV? 22 Smart Card is a plastic Card which has a chip embedded into it. EMV = Global specifications for cards, terminals, applications & payment systems, developed by Europay, MasterCard & Visa to facilitate the operation & interoperability of smart card transactions for debit and credit
Magstripe Vs. Chip Cards 23 Magstripe Cheap & Reliable Works all over the world through ISO slandered Easy for fraudsters to copy A read only mechanism, So limited Capabilities Limited Data Capacity (440 660 Bytes) Chip Based Debit/Credit authorisation controls driven by EMV chip enhanced data authentication Very hard to copy off-line counterfeit detection off-line PIN controls Large data capacity (64,000 + Bytes) Multi-Applications
What is ISO 27001 Standard? This is an Information Security Standard which is implemented to manage Information Security risk in the whole organization. ISO will help the organization to manage the security of assets such as financial information, intellectual property, employee details or information entrusted to you by third parties.
The security measures and controls. 25 Above mentioned security controls adherence by Knet network, qualify it to be the most secure reliable payment channel to partner with the government to take its payment experience to the next level.
E-GOV 26 Knet has started its service to E-GOV in 2008 its Brand Tasdeed Services are PG, POS/ IPOS ( + 2400 ) Around 200,000 Transactions/Moth Main Ministries are Ministry of Finance Ministry of Interior Ministry of Judge Ministry of Water & Electricity Ministry of Communications Public Authority for Civil ID.
200,000 Trx Per Month 2400 POS terminal * E-stamp 420 P/G 20 website
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