Regional m-payment group nears launch

M-Net, the Kuwaiti m-payment start-up, claims to be on track to launch its system during Ramadan.

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By  Richard Agnew Published  July 18, 2004

M-Net, the Kuwaiti m-payment start-up, claims to be on track to launch its system during Ramadan. The group, which plans to provide payment services to mobile users across the Arabian Peninsula, says that friendly-user trials started last month. It aims to launch the system first in Kuwait and expand elsewhere by linking up with regional telcos and banks. Membership of the group consists of MTC-Vodafone; the National Bank of Kuwait; the Al Shaya retail company; and the Al Roudan Group. The consortium is headed by Nasser Al Roudan, the former Deputy Prime Minister of Kuwait. Paybox Solutions, the Frankfurt-based technology provider, signed a contract to support the system last year. The service will be hosted by Qualitynet, the Kuwaiti ISP.

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