What we do
Direct Debit reduces the administrative burden on companies by making payment methods as efficient as possible.
For businesses, we are a platform that enables them to offer flexible monthly payments. It is also part of our strategy to convince businesses, In the long-term giving customers flexibility to pay monthly is better for cash flow. As a business, you will have 41% reduced bounce payment rate. It also helps those businesses with VAT to bill monthly and get paid monthly.
Another practice which is prevalent in UAE of collecting postdated cheques and recording full amount received against PDCs is a deviation from international accounting standards & best practices. Last but not the least, as a participating merchant, you can keep your banking relationship as it is. The marketplace is agnostic to banks & their DD systems.
Our infrastructure is built to process more than AED20bn in transactions a year and we’re proud to be partners with National Bank of Fujairah, UAEPASS, Dubai Pulse & Mohammad Bin Rashid Innovation Fund.
Our recurring payments platform integrates with the applications businesses use every day, giving businesses more visibility over payments and saving them huge amounts of time on tasks like payment reconciliation.
So far, through corporate channels, more than 50,000 tenants can use our application to pay monthly to their respective landlords.
As an organization, we strongly believe diversity is both a strength and opportunity.
Here’s how you start…
ORIGINATOR IDENTIFICATION CODE
The merchant goes through KYC. Your documents will be completed and sent to UAE Central Bank to issue you with a unique number called an ‘OIC’.
SETTING UP FOR SUCCESS
This is where you will receive training from the Direct Debit System team. It will include setting up your desired parameters in the system. For example, are you happy to take DD payments on credit cards or IBAN or both.
THINK OF TRANSFORMATION
Now is the right time to start transforming all your processes to be paperless. We can help you with that. Accounts receivable are truly digitized end-to-end when our API's are fully integrated with your CRM.
The step-by-step
payment collection
process...
Step ONE
Invite payer to execute contract through Direct Debit monthly payments. All done with few clicks on dashboard. Include payment plan if amounts are known i.e. rent, school fee etc.
The step-by-step
payment collection
process...
Step TWO
The payer accepts the offer by digitally signing DDA.
The step-by-step
payment collection
process...
Step THREE
Recurring payments start.
The step-by-step
payment collection
process...
Step Four
Cancellation of DDA
Both you the merchant & payer has a right to digitally cancel if he/she is not satisfied-digitally.
