UAE-based digital real estate investment management platform Keyper, announces the Rent Now Pay Later (RNPL) service launch in July to ease the financial burden for Dubai residents, Invest-Gate reports.

Keyper says the service will make it easier for tenants to manage their finances and enjoy a seamless rental experience while earning reward points from their credit cards.

Under this innovative payment approach, tenants will gain financial flexibility by spreading their rent payments over 12 months instead of the current 1-to-4 checks market standard, where they pay 3-to-12 months in advance.

Monthly rent will be charged to the tenant’s credit card, ensuring timely payment. Once a tenant has accepted their new monthly rent, they will go through a simple approval process and be digitally onboarded to the Tenant Dashboard.

Omar Abu Innab, Co-Founder & CEO of Keyper, says: “We recognize that Dubai is ready to leapfrog other global hubs by enabling tenants to digitize their rental experience and align it to the tenants’ income schedules. Traditional check payments are outdated, prone to errors, and do not provide a good user experience for tenants or landlords.”

Abu Innab adds: “We have designed our RNPL service to address these pain points and to enable our customers, tenants, and landlords, to better manage their finance with ease.”

By allowing tenants to pay their rent in 12 installments, landlords will likely experience improved tenant retention rates and reduced default rates.

It is worth noting that the seamless monthly rent payments through tenants’ credit cards reduce the risk of late or missed installments; tenants can pay their annual rent in monthly installments using a credit card.