Digital Dubai has unveiled the “Dubai Cashless Strategy”, aiming to enhance secure digital payment solutions across government and private sectors.
The landmark initiative falls in line with the goals of Dubai Economic Agenda (D33) and Digital Dubai’s goal of “Digitalizing Life in Dubai”, highlighting the role of digital payments in empowering and supporting all economic sectors within the emirate. The strategy seeks to cement Dubai’s position as a global digital economy capital.
Dubai Cashless Strategy aims for cashless transactions to account for 90 percent of all transactions by 2026, potentially accelerating economic growth by over AED 8 billion ($2.178 billion) annually through the implementation of fintech innovation.
Abdulrahman Saleh Al Saleh, Director-General of Dubai’s Department of Finance, commented that, “Dubai enjoys an advanced financial ecosystem based on international standards. The Dubai Cashless Strategy aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to enhance the emirate’s global business position.”
Al Saleh also added that 97 percent of Dubai government transactions were digital in 2023. Helal Saeed Almarri, Director-General of Dubai Department of Economy and Tourism, highlighted the strategy’s pivotal role in achieving the Dubai Economic Agenda (D33) and supporting the goal of having 90 percent of transactions conducted digitally by 2026.
Hamad Obaid Al Mansoori, Director-General of Digital Dubai, added that, “Cashless payments are integral to daily life. We aim to establish Dubai as a global digital capital and an attractive investment destination.”
The strategy focuses on adopting innovations in digital payments, including AI-driven solutions and contactless technologies. It also aims to offer a seamless payment experience for customers and merchants, facilitating diverse payment methods and gradually reducing acceptance fees.
The fintech sector plays a key role in contributing to the strategy’s objectives, strengthening Dubai’s position as the digital economy capital and promoting innovations in digital financial services.
Overall, the Dubai Cashless Strategy aims to empower all stakeholders in the digital payment ecosystem, ensuring ease and secure digital transaction ecosystem across the emirate.
