KIB Launches BuyNow: Kuwait’s First Bank-Led BNPL App for Flexible Shopping

Quick Summary

Kuwait International Bank (KIB) has launched BuyNow, the first bank-led BNPL service in Kuwait. The app provides Sharia-compliant flexible payment options for purchases up to KD 25,000, allowing users to split costs into installments with 0% profit, effectively modernizing the retail financing landscape for Kuwaiti consumers.

How Does KIB BuyNow Solve Flexible Payments?

Kuwait International Bank solves the need for transparent, Sharia-compliant credit by offering two distinct paths within a single app. The Split service allows for immediate purchases up to KD 500, which can be repaid in four equal installments with 0% profit and zero fees. For larger investments, the Finance service covers purchases up to KD 25,000 with repayment terms starting at three months.

• Instant eligibility checks and immediate approval for Split transactions.
• No salary transfer required for high-value financing up to KD 25,000.
• Sharia-compliant Musawama structure ensures ethical financing standards.

"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." said Othman Tawfeqe, General Manager of Retail Banking at KIB.

What Benefits Does BuyNow Offer to Merchants and Partners?

The BuyNow ecosystem is designed to be a growth engine for partners across automotive, healthcare, and electronics sectors. By integrating flexible payment options directly into the checkout process via QR codes or links, KIB enables merchants to reach broader customer segments and increase conversion rates. This integrated digital experience bridges the gap between banking and retail, creating a connected ecosystem for business growth.

• QR code payments for seamless in-store BNPL integration.
• Broad industry coverage including education, furniture, and gaming.
• Enhanced sales opportunities through bank-backed financing at the point of sale.

"BuyNow represents more than simply introducing a new payment and financing option. It forms part of a broader approach aimed at connecting customers’ needs with solutions that also support our corporate and merchant partners. Through this model, we are transforming payment and financing solutions into tools that help drive our partners’ business growth, enable them to reach broader customer segments, and enhance sales opportunities, while delivering a more integrated experience across the Bank, our partners, and our customers." said Abdulaziz Al-Shammari, Assistant General Manager of Retail Banking at KIB.

How Does This Fit Into the KIB Now Strategy?

The KIB Now strategy represents a fundamental shift toward digital-first banking. Following the launch of DriveNow, BuyNow is the second major platform released within a month, demonstrating an accelerated digital rollout. By utilizing technology and data, KIB is moving toward its "Bank for Life" vision, ensuring that flexible payment options are accessible to both existing customers and those who bank elsewhere.

"KIB Now provides the framework for building a new generation of digital experiences. The launch of BuyNow shortly after DriveNow reflects the progress we are making in advancing this strategy and our ability to turn ideas into practical services that fit seamlessly into customers’ everyday lives. Building on this momentum, we will continue to develop new solutions that respond to evolving customer behavior and expectations." said Mohammed El-Shareef, General Manager of Digital Innovation and Data Intelligence at KIB.

FF NEWS TAKE:

KIB is making a bold strategic move by reclaiming the BNPL space from third-party fintechs. By offering a bank-led BNPL service with high-limit financing (up to KD 25,000), they are providing a level of trust and scale that startups struggle to match. This effectively moves the needle in Kuwait by proving that traditional Islamic banks can outpace fintech challengers in digital agility and product innovation.