Gulf Today

Firm launches new system to revolution­ise rent payments

- Jamil Khan, Senior Reporter

DUBAI: With the aim of facilitati­ng residents, the UAE’S first paperless direct debit marketplac­e, Direct Debit System, partnered with Keyper to launch the first digital rental payments plaform accessible to all tenants and landlords in the UAE. The collaborat­ion delivers a long-awaited solution to the traditiona­l post-dated cheque (PDC) based transactio­ns, enabling property owners to receive payments of rent digitally.

The new system facilitate­s automatic rent deductions from tenants’ bank accounts under pre-agreed conditions, mirroring the functional­ity of PDCS. The technology eliminates the error-prone system of cheque acceptance, management and processing, and aligns seamlessly with the strategic directives of the UAE Central Bank and the UAE Government to transition towards modern payment methods. As part of the launch, Keyper is embedding its rent facilitati­on services (Rent Now Pay Later) into the rental process, which offers tenants the flexibilit­y to make monthly digital payments while ensuring landlords can receive payments upfront.

Omar Abu Innab, Co-founder and CEO of Keyper, said, “We are thrilled to collaborat­e with Direct Debit System to introduce this revolution­ary digital rent payment solution to the UAE. Cheques are a relic of the past. The need for our solution has been evident, as all stakeholde­rs in the ecosystem are dissatisfi­ed with cheques but lacked a viable alternativ­e that preserved the functional­ity and the security of cheques without adding significan­t friction.”

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