The UAE’s first fintech platform licensed by the Central Bank has announced a collaborative relationship to modernize collections and receivables management through safe, automated, and entirely digital recurring payment solutions.
Direct Debit System FZ LLC (DDS) and HSBC Bank Middle East Limited (UAE Branch) (HSBC) inked a collaboration in Dubai, and Ummair Butt, CEO and founder of DDS, and Kyle Boag, regional head of global payments solutions MENAT at HSBC Bank Middle East Limited, attended the ceremony.
Through the partnership, HSBC clients will be able to digitize recurring collections, remotely onboard payers, and automate payment workflows without the operational hassle of paper mandates, physical checks, or manual follow-ups thanks to DDS’s end-to-end direct debit infrastructure. More flexibility and control over collections will be possible thanks to it, including the option to digitally change predetermined amounts or delay, defer, suspend, or cancel installments.
Additionally, the DDS platform has UAE PASS digital signature capabilities, which facilitate safe customer verification and reduce problems related to signature mismatches.This collaboration helps deliver scalable, secure direct debit solutions that meet evolving client needs and the UAE’s broader digital transformation agenda, as businesses seek more effective, user-friendly payment methods.
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