Kuwait-based leading proptech platform for cloud-based property management, Ajar has partnered with Visa, the world’s leader in digital payments to facilitate the online rent payment process.
As part of the partnership real estate agencies, landlords and property management companies that are registered on the Ajar platform can collect rent payments online. The new collaboration will strengthen the proptech platform’s mission to digitize the region’s real estate market.
The new digital payment platform is set to transform the process for both landlords and tenants with a convenient credit card transaction by replacing the old, outdated system of cash and cheques.
“We are thrilled to announce our new partnership with Visa. At Ajar, we aim to revolutionize the region’s property market through digitalization, reducing losses by maximizing efficiency. This new partnership enables us to harness Visa’s extensive expertise to create a safe and user-friendly platform that will forever change the way our customers manage their businesses.”
Ajar’s infrastructure offers a number of key benefits to both landlords and tenants across the GCC region. Payments can be made instantly, with real-time payment tracking and multiple bank account capabilities, reducing the risk of bounced cheques and reserve fees.
The paperless system is both more environmentally sustainable and lowers print overheads, with a secure archiving system for e-receipts to keep track of payments. The fully contactless process reduces the need for face-to-face human interaction, respecting social distancing measures and offering additional security to tenants during the COVID – 19.
Ankush Devadason, Visa’s Country Manager for Kuwait commented, “By partnering with one of the sector’s digital pioneers, we are able to put in place a convenient online payment system, secured through Visa tokenization solutions that transfer this traditional industry into the world of digital payments, helping facilitate the lives of both landlords and tenants. In light of the global pandemic, the new, contactless system makes transactions easier and safer than ever before.”
The second phase of the Ajar-Visa partnership, which will come soon, further expands the digital payment platform to enable tenants to directly make payments even when landlords are not pre-registered with the platform. Tenants will also be able to use the system by paying on credit and setting up regular payment plans through their own banks.