No cheque, pay rent by direct debit

dubai — A new digital payment service has been launched that will allow tenants to pay their rent through direct debit.

Asteco has partnered with the National Bank of Fujairah and Direct Debit System to use direct debit as a digital solution for all parties in a real estate transaction.

As per the system, the tenant signs a direct debit authority document with Asteco. Payments are then debited from the tenant’s current or savings account or credit card at the agreed date and frequency, and deposited into the landlord’s account.