Dubai’s Cashless Strategy Exceeds 2026 Targets, Achieving Historic Digital Payment Milestone
The Dubai Cashless Strategy has surpassed its key objectives ahead of schedule, with cashless transactions reaching 90.1% and contributing more than AED8 billion to the emirate's economy.
Dubai has achieved a significant milestone in its digital transformation journey, with the Dubai Cashless Strategy exceeding its primary targets well before the scheduled two-year completion date. The initiative, which was launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, in October 2024, has demonstrated the emirate’s exceptional capacity for rapid digital economic evolution.
The strategy’s comprehensive results reveal that Dubai’s cashless transactions index has reached 90.1%, surpassing the 90% target originally set for 2026. The Digital Enablement Index for the government sector has achieved a perfect score of 100%, reflecting the widespread availability of digital payment methods throughout government institutions and businesses. The community happiness index has similarly exceeded expectations, reaching 90.1% compared with the 90% target.
The achievement reflects the strength of Dubai’s collaborative approach to digital transformation, driven by extensive partnerships between government entities, financial institutions, payment solution providers, and technology and financial services companies. The strategy’s contributions to the emirate’s economy have been substantial, with cashless payment initiatives generating more than AED8 billion in economic value.
The strategic roadmap has achieved impressive performance across its three foundational pillars: governance recorded 97% completion, society achieved 95%, and innovation reached 93%. The government sector has demonstrated particularly advanced performance, with government cashless collections reaching 99.66% during the first half of 2026. Dubai Finance has successfully established more than 70 strategic partnerships with government entities and private-sector businesses, while strategic accelerators achieved 95% completion during the same period.
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council, and Chairman and Chief Executive of Emirates Airlines and Emirates Group, noted that these achievements significantly enhance Dubai’s competitiveness as a global destination for business, investment, and tourism. The seamless and efficient payment experience created through the strategy facilitates journeys for investors, customers, and visitors whilst supporting a more flexible and connected business environment.
Abdullah Mohammed Al Basti, Secretary General of The Executive Council of Dubai, emphasised that the strategy’s success reflects the effective integration of ambitious economic plans with government policies that encourage adoption of global best practices. This has enabled Dubai to rank first globally across several indicators related to ease of doing business, investment attraction, and proactive adoption of smart technologies.
Abdulrahman Saleh Al Saleh, Director-General of Dubai Finance, highlighted that exceeding the 2026 cashless transactions target represents a pivotal milestone, particularly given the concurrent achievements in digital enablement and community satisfaction. The focus moving forward will centre on sustaining these results, expanding the scope of digital solutions, and deepening partnerships to develop a flexible, secure payment ecosystem that maintains alignment with global innovations.
Source: WAM