UAE’s first paperless direct debit marketplace initiates ambitious expansion plans

December 12,2024 : Dubai, UAE: Direct Debit System, the UAE’s first paperless direct debit marketplace, has launched the first phase of its ambitious overseas expansion plans with the acquisition of UK-regulated company, ElseWare Ltd. The move counters the traditional trend of technology transfer from West to East, as the home-grown UAE fintech firm expands its product range into an established international marketplace.

Elaine Jones, Chairman of Direct Debit System

ElseWare Ltd has been a software provider in the UK’s BACS marketplace for almost 30 years. Through its core product, Front2BAX, customers can make and collect paperless direct debits and autogenerate payments if required. Direct Debit System’s acquisition of ElseWare is a strategic move on the back of the introduction of the UAE’s instant payment platform, Aani, to diversify into territories that have similar regulated instant payment solutions. 

Russell Saunders, Chair of ElseWare

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