Tenants can soon pay their rent digitally: Real estate app Keyper and central bank-regulated marketplace Direct Debit are partnering to launch the country’s first digital rental payments platform, Keyper said in a statement. The new system integrates Keyper’s Rent Now Pay Later service, offering tenants flexibility in making monthly digital payments while ensuring upfront payments for landlords, reports Arabian Business.

Replacing cheque payments: The platform intends to take the place of the traditional cheque system, which requires 95% of tenants to pay with written cheques. Direct Debit’s system will automate rent deductions from tenants’ bank accounts under pre-agreed conditions.

The “bank agnostic” approach eyes tied-up landlords + non-resident property investors: The collaboration aims to benefit individual and small-to-medium landlords who wrestle with “multiple assignments of receivables and loans from banks against their properties,” said Keypar co-founder and CEO Omar Abu Innab. The paperless system also expects to attract non-resident property investors by offering them the option to lease estates and receive payments digitally, even when posted outside the UAE.

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