Asteco has launched an online payment service that allows tenants to pay their rent liabilities via the direct payment system. The service allows for the release of future rental checks in order to increase transaction efficiency, simplify procedures and save time, which will have a positive impact on the real estate market.
Asteco works with the National Bank of Fujairah and Direct Payment System to implement a direct payment system, which is an easy-to-use electronic solution for all parties involved in real estate transactions.
NBF facilitates this process as a sponsor and ensures the settlement of a number of bills. Asteco has completed the integration of the direct payment system with electronic real estate management systems and is now available as an option and is highly sought after by the owners.
According to the system's procedures, the tenant must sign a document entitled "Validity of direct payments" from Asteco, which is executed once, and then deduct the amounts due directly from the current tenant's account or investment or credit card balance periodically at the agreed time and deposited on the owner's account.
"The transition to electronic systems is growing day by day," said Ellen Jones, CEO of Asteco. "Asteco works closely with its partners to adopt new systems and innovations that contribute to the creation of a secure and efficient financial environment in Dubai and customer service."
"The implementation of a direct payment system to collect rents is the first step in this journey, which will improve the efficiency of transactions and enable us to provide customers with a better experience." We are convinced that this move will have a positive and immediate impact on the UAE real estate market.
"We are very pleased with our cooperation with Asteco and the direct payment system," said Vince Cook, general manager of the National Bank of Fujairah. There is no doubt that the transition to the payment of rents by electronic means is in the interest of all parties. "
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