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Direct Debit System & Keyper to boost rental payments in Dubai

By Delisha Fernandes

March 13, 2024

  • Bank Accounts
  • Digital Payments
  • Direct Debit System
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Direct Debit System, Keyper, rent payments, FinTech news, FinTech UAE

Direct Debit System, UAE’s paperless direct debit marketplace, has partnered with Keyper, a venture capital-backed, technology-enabled property management platform, to launch a digital rental payments platform 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.

Ummair Butt, CEO of Direct Debit System, said “This partnership is a testament to our commitment to innovation and our vision to simplify and enhance the rental process for landlords and tenants alike. Collaborating with Keyper allows us to expand our reach and contribute to the digital transformation of the rental market in the UAE, aligning it with other comparable global cities. Together, we are setting a new standard for the entire rental market, making the process more efficient, secure, and user-friendly.”

Direct Debit 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. Enabled by Direct Debit System, this shift towards digital payments is poised to significantly enhance the rental experience for both landlords and tenants, in addition to reducing the operational costs associated with rent payment processing.

“We are thrilled to collaborate with Direct Debit System to introduce this revolutionary digital rent payment solution to the UAE,” stated Omar Abu Innab, Co-founder and CEO of Keyper. “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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