In a significant move that underscores its ambition on the global stage, Direct Debit System, the UAE's first paperless direct debit service, has unveiled the first phase of its international expansion strategy.

This bold step comes through the acquisition of Elsewhere Ltd, a UK-based software provider with nearly three decades of experience in the British banking automated clearing system.

Defying the conventional west-to-east technology transfer approach, this local Emirati fintech is poised to broaden its product offerings in well-established international markets.

This strategic acquisition aligns with the recent launch of the UAE's instant payment platform, 'ANEE', paving the way for Direct Debit System to expand into additional markets embracing similar regulated instant payment solutions.

Since its inception in the UAE in 2022, Direct Debit System has received official approval from the Central Bank of the UAE as recently as March 2023.

Within only 20 months, the company has accomplished its first international acquisition, marking a rapid ascent on the global fintech landscape.

Founder and CEO Ameer Butt expressed optimism about the future, stating, 'Our next target markets are Saudi Arabia and Pakistan, which are geographically and culturally close to our home base.' This focus on neighboring regions highlights a strategic and culturally aligned approach to its expansion efforts, resonating with Dubai's vision of fostering strong regional economic ties.

With this move, Direct Debit System not only accelerates UAE's fintech presence globally but also aligns with Dubai's leadership ambitions to position itself as a hub of innovation and economic growth.