Firm launches new system to revolutionise rent payments

Jamil Khan, Senior Reporter

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 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.

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.”