The Central Bank of UAE authorized the launch of a fintech platform, developed by a Direct Debit System, to allow all UAE citizens to pay their recurring payments.
The platform was developed by a fintech company that built a direct debit system where Emirati citizens and residents can pay through the digital marketplace and track their monthly payments.
The digital payment platform is offered both for individuals and businesses under fix-monthly fees. All payment transactions will be regulated by the Central Bank. The system is also compliant with Dubai Electronic Security Centre’s regulations.
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