Transforming Rent Payments: Tern Rewards Launches the UAE’s First Digital Rental Payment and Rewards Platform
Tern Rewards has launched a groundbreaking digital platform for rental payments in the UAE, allowing tenants to pay their rent via credit card while earning double rewards. The platform blends financial flexibility with cutting-edge technology, offering a streamlined, efficient, and rewarding way to handle rent payments.
Tern Rewards allows tenants to pay their rent with a credit card, earning both credit card points and Tern points. These points can be redeemed at a wide variety of top merchants, including Amazon, Noon, iTunes, Netflix, Centrepoint, VOX Cinemas, du, Etisalat, Carrefour, and Yas Waterworld, among many others.
Beyond benefiting tenants, Tern Rewards offers landlords a powerful, cost-free tool to monitor and manage their portfolios with ease. By combining innovation with convenience, Tern is transforming the rental market, making renting a more rewarding experience for everyone involved.
The platform is part of the DLD’s Real Estate Evolution Space Initiative (REES) and has successfully raised $1.5 million in pre-seed funding. Tern Rewards has already gained traction with major landlords, joining the Tern Alliance—an exclusive network of landlords and property managers (including individual landlords) that is currently accepting applications.
Said Al Sayyed, Co-Founder: “Rent and the way we pay it hasn’t changed in decades. At Tern, we are redefining the rental experience by turning the largest single expense into rewarding opportunities. This model has been successful in other markets and its definitely the future of renting everywhere. It’s no surprise that we have seen massive momentum from partners and landlords/ property managers since launch and estimate to take over the majority of rent payments in UAE in the next few years”.
Mohammad Shaitou, Co-Founder: “The shift to digital rental payments perfectly aligns with the UAE’s strategic vision to advance modern payment solutions and drive digital innovation across key sectors. It also supports the UAE Digital Government Strategy, which seeks to integrate digital transformation across all government initiatives, fostering a seamless, tech-driven ecosystem.”
Tern Rewards has attracted investment from strategic industry leaders, including CEOs of real estate and property management companies, leveraging their extensive expertise in the real estate and leasing sectors. This support not only strengthens confidence in the platform but accelerates Tern’s mission to revolutionize rental payments through digital innovation and strategic partnerships.
With backing from leading FinTech investors like VentureSouq (VSQ) and BYLD, Tern Rewards is poised for growth and is set to redefine the future of rent payments in the UAE.
Source: https://ternrewards.com/
Main photo credit: Alexey Komissarov (Pexels.com).
