Dubai Sets Goal for 90% Cashless Transactions by 2026

The Digital Dubai Authority revealed their Dubai Cashless Strategy, which aims to have 90% of all transactions to become cashless by 2026. The initiative is expected to spur economic growth by over AED 8 billion annually through fintech innovations.

The strategy would enhance the payment experience for both customers and merchants by offering various payment methods and gradually lowering acceptance fees, creating a digitally advanced economy. Already, 97% of government transactions in Dubai were digital as of 2023.