KUWAIT: Nomo Bank, the digital bank of the Bank of London and the Middle East "BLME", a subsidiary of Boubyan Bank Group, has launched Apple Pay service for all its customers. Apple Pay is the most secure digital payment method allowing the bank's customers to process all their transactions using Apple's smart devices (iPhone, iPad, Mac, and Apple Watch). This is a very important step towards using the bank's digital services, making it easier and more comfortable and safe to use such services in customers' daily payment and purchase transactions.

Abdulla Al-Tuwaijri

Abdulla Al-Tuwaijri, member of BLME's Board of Directors, stated: "This step comes as a part of Nomo Bank's keenness on developing a group of innovative digital payment solutions in order to keep up with the challenges of this era, while providing customers with state-of-the-art payment technology to offer them a unique banking experience that meets their expectations and needs while ensuring the highest levels of protection and security." "This step highlights the bank's strategy aiming at offering digital banking services and allowing customers to manage their savings smoothly and easily", he added.

Andrew Ball

On his part, Andrew Ball, BLME's CEO, stated: "We take pride in this important milestone in Nomo's journey, which just started little months ago, confirming BLME's vision to establish a digital Islamic bank to keep up with our customers' ambitions and to meet the needs of everyone looking to manage his wealth in a better way, while having access to cutting-edge banking services at the same time."

"Nomo's customers enjoy full control over their savings and wealth in their London-based accounts around the clock, regardless of where they are. This is mainly attributed to the safe and smooth Nomo App, which offers various innovative digital banking services and products", Ball added. This service will allow the customers of Nomo Bank to make payments easily, whether through the app or during online purchase without having to create an account or fill out credit card's information or shipping and billing information every time.

Another security feature in the design of Apple Pay is that when you pay using your banking cards, card numbers are not stored on the device, rather, a personal encrypted account is created for the device and then stored in the approved chip.

Various uses

Al-Tuwaijri, who also serves as CEO, Private, Consumer & Digital Banking at Boubyan Bank, went on to add: "You can use Apple's devices such as iPhone or Apple Watch to make payments in stores, restaurants, cafes, hotels and many other places around the world smoothly in addition to using them in online purchases using Touch ID or Face ID."

"Just imagine how easy it is to have your banking card on your phone or watch, how this can make your life easier and your daily banking transactions smoother since you will be one swipe away from performing your transactions using contactless POS terminals", he added. Al-Tuwaijri elaborated: "Ever since the launch of Nomo Bank last October, we have been witnessing a continued growth whether in the number of customers or the innovative digital banking products offered by the bank, which are highly welcomed and used by our customers."

"Despite the customers' base is mainly limited to the UK and Kuwait currently, the bank is looking forward to an expansion in GCC countries and then internationally to literally become "the World's First Islamic Digital Bank" that meets everybody's needs and offers high-quality digital services", he added. Al-Tuwaijri concluded: "We will be launching the app for Android users soon in addition to offering real estate finance services to customers interested in owning real estate properties in the UK."

Modern bank

All Boubyan and non-Boubyan customers can open a UK-based current account with Nomo Bank, whether in pound sterling or USD in just a few minutes and receive a pound sterling debit card on their address within 5 days to be able to use this card anywhere around the world.

Nomo Bank offers daily Sharia-compliant banking services along with investment opportunities to an increasing customer base in Kuwait that has special international banking needs. It allows its customers as well to process quick international transfers right from the app against fully transparent fees.

It is worth mentioning that Nomo Bank is the retail brand of BLME, a fully licensed bank in the UK, subject to the supervision of financial authorities in the United Kingdom, with a majority stake owned by Boubyan Bank.