First Digital Payment Platform for UAE Tenants and Landlords Launched

Post by: Dr. Amrinder Pal Singh

In a significant advancement for digital payments in the UAE, the Direct Debit System, the country’s pioneer paperless direct debit marketplace, has partnered with Keyper, a prominent technology-driven property management platform supported by venture capital. Together, they introduce the first accessible digital rental payments platform for all UAE tenants and landlords, addressing the challenges of the traditional post-dated cheque (PDC) system.

This collaboration provides a long-awaited alternative to PDC-based transactions, enabling property owners to receive rent payments digitally. The Direct Debit System ensures automatic rent deductions from tenants' bank accounts, eliminating the complexities of cheque acceptance, management, and processing. This aligns with the strategic directives of the UAE Central Bank and government to modernize payment methods.

Keyper, as part of the initiative, integrates its rent facilitation services (Rent Now Pay Later) into the rental process, allowing tenants flexibility in making monthly digital payments while ensuring upfront payments for landlords. This shift to digital payments is expected to enhance the rental experience, reduce operational costs, and particularly benefit non-resident property investors in Dubai.

Despite slow adoption of digital rent payments, this collaboration focuses on individual and small-to-medium landlords, the majority in Dubai. Omar Abu Innab, co-founder and CEO of Keyper, emphasized the need for an alternative to cheques, stating that the collaboration's direct debit integration serves landlords with multiple assignments of receivables and loans from banks against their properties.

Ummair Butt, CEO of Direct Debit System, highlighted the collaboration's role in expanding reach and contributing to the UAE rental market's digital transformation, setting a new standard for efficiency, security, and user-friendliness. 

_{Source: Khaleejtimes}

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