"UAE Central Bank Gives Green Light to UAE’s First Paperless Direct Debit Marketplace"

Date Posted:Wed, 22nd Mar 2023

"UAE Central Bank Gives Green Light to UAE’s First Paperless Direct Debit Marketplace"

Congratulations to BBG Member Ummair Butt for being a 'changemaker' for the UAE Employment Industry.

 

Ummair said, “We are delighted to be given the official go ahead and are grateful to Central Bank and its leadership for allowing us to be part of its digital payments transformation agenda for the country. Since our soft launch in September, we have received incredible feedback from businesses who want to move to the paperless and digital transformation space. Our first merchant is set to accept its first Direct Debit payment in March 2023.”

 

'Developed by UAE-based FinTech company, Direct Debit System, the direct debit marketplace has been established to provide residents and citizens of the UAE with a safe, legal alternative to make all their recurring payments in one place. Accessed only through UAEPASS, the marketplace offers users peace of mind, with all payments facilitated through the platform being integrated with, and regulated by, the UAE Central Bank.' Khaleej Times

To read the full article click here