KNET, the Shared Electronic Banking Services Company, is set to revolutionize financial transfers through an innovative approach. The company is planning to introduce a streamlined method that allows users to conduct financial transactions via a new smartphone application, eliminating the need for traditional multi-step processes.

According to reports from Al-Rai Arabic newspaper, the proposed plan involves executing financial transfers in a single step using a dedicated smartphone application. Users can simply input the recipient's phone number and specify the transfer amount, bypassing the requirement to log in to the bank's mobile application and generate a payment link.

To avail of this service, individuals must register on the application using their phone number already registered with the bank. Sources indicate that there will be a maximum transfer limit of 1,000 dinars for this convenient one-step transaction method.