The Dubai Cashless Strategy has contributed more than Dh8 billion ($2.18 billion) to the economy, surpassing its goals ahead of its two-year timeframe.
The emirate's cashless transactions index hit 90.1 per cent, exceeding the 90 per cent target set for 2026, the Dubai Media Office said in a statement on Friday, quoting figures from Dubai Finance.
The Dh8 billion figure was also the target set when the strategy was launched in October 2024. The digital enablement index for the government sector reached 100, reflecting the availability of digital payment methods across institutions and businesses, it said.
The initiative achieved strong results across the strategy’s three pillars, with 97 per cent achieved in governance, 95 per cent in society and 93 per cent in innovation, it said.
“Operational business continuity was also maintained to ensure the sustainability of these results and maximise their long-term impact,” the report said.
Additionally, the community happiness index also hit 90.1 per cent, also surpassing the 90 per cent target.
“The strategy reflects the success of Dubai’s model, which is built on a clear vision, integrated roles between the government and private sectors, and the expanding use of technology and innovation to serve people and enhance economic competitiveness,” the DMO said, citing Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence.
The Dubai Cashless Strategy was unveiled in October 2024 as the emirate seeks to solidify its standing as one of the world’s top digital cities.
The initiative seeks to enable seamless and secure digital payment solutions across both government and private sectors, the media office said. It aligns with the objectives of the Dubai Economic Agenda, the initiative also known as D33.
In a separate statement on Friday, top Dubai officials said the achievement marks a new milestone and reinforces Dubai’s position as a leading global hub.
“The transition towards a cashless society is not a technological objective in itself. It is part of a broader vision for an interconnected digital city that provides individuals and businesses with easier and more efficient experiences and enables innovation to translate into economic and social value,” said Hamad Al Mansoori, director general of Digital Dubai, which spearheaded the cashless strategy.
Helal Almarri, director general of the Dubai Department of Economy and Tourism, noted that the efficiency of transactions is a vital element of the experience of businesses, residents and visitors.
“The wider range of payment options enriches the visitor experience, enhances Dubai’s competitiveness and reinforces its position as one of the world’s most accessible and connected cities,” he added.
