New payment system reduces burden on tenants

The UAE’s first paperless direct debit marketplace, Direct Debit System has signed a partnership agreement with the country’s largest property management solution, HappyTenant, to help ease monthly budgeting for property renters across the country.

The collaboration will enable HappyTenant’s 120,000-plus tenants to pay their rent in 12 direct debit installments, eliminating the financial burden and the handling inefficiencies of traditional post-dated cheques.

United in the shared vision to transform the tenant experience, the partners will embed the monthly payment system into the existing HappyTenant platform, which already offers over 100 features to deliver a complete end-to-end solution for property management.

With a portfolio of prominent real estate clients such as Savills and Allsopp & Allsopp, the new digital payment feature has the potential to streamline transactions and reduce operational fees for thousands of renters and landlords.

The integrated process will see rent deducted from tenants’ bank accounts automatically each month, under pre-arranged terms. The new collaboration is the latest in a series of partnerships established by Direct Debit System to support the uptake of digital payment solutions for recurring expenses. The firm’s founder and CEO, Ummair Butt, explained, “Our primary goal is to ease the budgeting burden for monthly salaried individuals and families in the UAE. By providing the option to pay for large expenses, such as rent and school fees, in monthly instalments, people can manage their finances better and stay out of debt.”