News

First Paperless Direct Debit Marketplace Launches In UAE

The UAE-based FinTech company, Direct Debit System, has launched an all-in-one platform called Direct Debit Marketplace to help users make recurring payments.

Published

4 years ago

September 12, 2022

Nour Nasir

first paperless direct debit marketplace launches in uae

Direct Debit System’s new platform will charge merchants a fixed fee for credit card & current account transactions, significantly reducing operating costs. The platform provides consumers and merchants with a simple all-in-one method for setting up and receiving recurring payments, such as school fees, rent, utility bills, and general subscription-based services, such as gym memberships.

One of the headline features of the service is that it will not affect merchant relationships with banking providers. In addition, the platform’s transactions are integrated with (and regulated by) the UAE Central Bank.

“We are delighted to see the launch of Direct Debit, another success story from our Innovation Accelerator program, where we nurture promising startups that innovate and use technology to disrupt industries. Direct Debit is a perfect example, providing merchants and payers in the UAE with a marketplace where they can transact recurring payments efficiently at low cost,” says Fatima Al Naqbi, Chief Innovation Officer, Ministry of Finance and MBRIF representative.

Writing cheques for rent or school fees is still common in the UAE, so Direct Debit Marketplace hopes its app will provide a safer, more convenient, and centralized alternative. UAE-based merchants using the platform can easily integrate with their accounting software or use the built-in dashboard. Direct Debit Marketplace is integrated with UAEPASS, the UAE’s secure digital identity scheme, which makes the entire process paperless.

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“Data security is very important for us, and the system is hosted in Dubai’s Data Center, known as Dubai Pulse. This makes us DESC (Dubai Electronic Security Center) compliant, with data positioned safely behind government firewalls and systems, which are the best in the world. Direct Debit Marketplace is a Decretal System of the UAE, which means the system is accepted by the national courts. With recent changes to laws related to cheques, both paper-based redundant cheques and new paperless digital direct debits carry equal weight when it comes to the law,” says Ummair Butt, Founder, and CEO of Direct Debit System.

The new service is supported by the National Bank of Fujairah (NBF), and it’s hoped that the platform will be fully operational before the end of 2022. Direct Debit Marketplace is already seeing huge interest from merchants and promises to drastically cut the time spent organizing recurring payments.

News

LUVED Is A New Curated Preloved Marketplace For The UAE

Sellers keep 100 percent of every sale and AI can build a listing in five seconds — though the app’s smartest tools are still coming.

Published

2 days ago

June 16, 2026

Joanna Melki

luved is a new curated preloved marketplace for the uae

Secondhand shopping has become mainstream in the UAE, but the experience is still scattered across resale sites, social media and informal group chats. LUVED, a mobile-first marketplace that launched in Dubai this month, is betting it can pull that activity into one place — and that the thing buyers and sellers actually want is not more inventory, but trust.

The app trades in what it calls circular luxury: preloved fashion and lifestyle pieces across men’s, women’s and children’s categories, bought, sold or given away peer to peer. Its main pitch is economics, with sellers keeping 100 percent of every sale under a zero-commission, fast payout model, while buyers are promised vetted pieces at lower prices.

Where LUVED is staking its reputation is verification. Sellers pass a KYC check, and items run through a two-layer authentication system powered by Entrupy that pairs instant AI screening with human expert review for high-value pieces. Authenticity certificates travel with each item, payments sit in escrow, and a buyer-protection package the company calls The Safety Net adds a 48-hour return window and dispute resolution. Door-to-door logistics removes the in-person meetups that make most resale deals awkward.

An in-app assistant called Luvbot — offering selling insights and demand-based recommendations — is soon to be introduced to the platform. Other features include autofill and dynamic pricing that lets users build a listing in as little as five seconds from three photos, plus a swipe-based feed, story-style drops and in-app chat in English and Arabic. Finally, a gifting layer, Luved & Gifted, lets users pass items to others inside the app rather than sell them.

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“After moving to Dubai, I saw how difficult it was to sell or even give things away,” says founder and CEO Shaima Sibtain. The friction is real, and so is the competition. In resale, trust is won transaction by transaction — and that is the test LUVED has set itself.

The app is live on the App Store now, with Google Play to follow. The company also plans to expand across the region, which will be the real test for a marketplace staking everything on trust.