April 22, 2024

DDS Partners With Zenda To Simplify School Fee Payments

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Direct Debit System And Zenda collaboration to improve collection efficiency and provide pay-monthly option for parents
Direct Debit System (DDS) partner to simplify school fee payments-From L To R: - Raman Thiagarajan, Co-Founder, zenda and Ummair Butt, Founder and CEO, Direct Debit System-Image Credit-Direct Debit System (DDS)

The UAE’s first paperless direct debit marketplace, Direct Debit System (DDS), has partnered with fellow fintech start-up, Zenda, to simplify the payment of tuition and education-related services through an automated, digitized process.

Industry sources added that this partnership will surge the efficiency of payment collection for education institutions while offering parents the flexibility to pay fees monthly.

Industry sources added that this integrated technology has been specifically developed to integrate with platforms used in the educational sector to facilitate end-to-end digitization, improving controls and cash-flow predictability and eliminating the need for manual reconciliations. At the same time, it provides families with the opportunity to manage household budgets more effectively through customized recurring payment plans.

Industry sources further affirmed that as the other industries trigger the shift to automation and digitization, the education sector lags, with half of payments still being made through cash or cheques. The new partnership will integrate Zenda’s user-friendly payment app with the paperless Direct Debit System to permit parents to settle school bills with pay-now and pay-later options. In addition to tuition fees, families can also explore other services, like transport and meals, to expand their payment options through the app.

The collaboration comes as both Direct Debit System and Zenda grow their operations in the UAE and beyond. In the past three years, Zenda has expanded across five countries, working with over 400 schools, and serving more than 100,000 families. In its home market of the UAE, Zenda commands over 30% of the market share.

Co-founder, Haseeb Ahmed of zenda

Co-founder, Haseeb Ahmed, explained, “Our aspiration at Zenda is to redesign financial services, contextualized for solving specific use cases of the sector, and in creating a one-stop experience for the parent.”

Speaking about the latest collaboration, Founder and CEO, Ummair Butt, stated, “This agreement with Zenda is another important milestone in our mission to provide an alternative to the age-old practice of bulk cheque payments.”

He explained, “Combining four bulk cheques for annual rent and three cheques for school fee payments can amount to over 50% of the average salary in the UAE. By settling those recurring expenses through a monthly digital payment system rather than advance paper-based cheques, 96% of monthly salaried people in the UAE can budget better to stay out of debt and protect their credit score. Direct Debit is offered at a very low cost to merchants incentivizing them to allow monthly payments and providing peace of mind as a safe, legal alternative to cheques.”

Speaking on behalf of Zenda, Co-Founder, Raman Thiagarajan concluded, “We are very excited to collaborate with Direct Debit System, a pioneer in offering a fully digital recurring payments platform in the UAE. Our services will help education institutions in offering flexibility to their parents while enhancing their collection efficiency at the same time.” 

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