Direct Debit System, the UAE’s premier paperless direct debit marketplace, has joined forces with Keyper, a leading technology-driven property management platform backed by venture capital, to introduce the first-ever digital rental payments platform accessible to all tenants and landlords across the UAE. This collaboration marks a significant milestone in the region’s real estate landscape, offering a much-awaited alternative to traditional post-dated cheque (PDC) transactions and ushering in a new era of digital payment convenience for property owners.

By leveraging Direct Debit System’s innovative platform, tenants can now benefit from automatic rent deductions directly from their bank accounts, replicating the functionality of PDCs while eliminating the cumbersome process associated with cheque handling and processing. This move aligns seamlessly with the strategic objectives outlined by the UAE Central Bank and the government, aimed at promoting the adoption of modern payment solutions and digitizing financial transactions.

As part of the launch, Keyper is integrating its rent facilitation services, known as Rent Now Pay Later, into the rental process. This feature provides tenants with the flexibility to make monthly digital payments, ensuring landlords receive their dues upfront. Powered by Direct Debit System, this transition towards digital rent payments promises to enhance the rental experience for both landlords and tenants while streamlining operational efficiencies associated with payment processing.

This initiative holds particular significance for non-resident property investors in Dubai, offering them a seamless avenue to lease their properties and receive payments digitally from anywhere in the world. Despite the proliferation of digital solutions, the adoption of digital rent payments has remained sluggish, with an overwhelming 95% of tenants still reliant on cheques. The collaboration between Direct Debit System and Keyper addresses this gap by catering to the needs of individual and small-to-medium landlords, who now constitute the majority of property rentals in Dubai.

“We are thrilled to collaborate with Direct Debit System to introduce this revolutionary digital rent payment solution to the UAE,” remarked 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.”

Echoing these sentiments, Ummair Butt, CEO of Direct Debit System, expressed enthusiasm about the partnership’s potential to reshape the rental market landscape. “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,” Butt stated. “Together with Keyper, we are setting a new standard for the entire rental market, making the process more efficient, secure, and user-friendly.”

The collaboration between Direct Debit System and Keyper underscores a shared commitment to driving digital transformation and enhancing financial inclusivity within the UAE’s real estate sector, setting the stage for a more seamless and efficient rental experience for all stakeholders involved.