Dubai to create action plan to transition towards a cashless society
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The Government of Dubai has created a new team called the ‘Cashless Dubai Working Group’, who will form a plan to make the city a cashless place. The plan will aim to shift all payment transactions in Dubai to secure cashless platforms.
Dubai is continuously extending its efforts to make the city a smarter place, and this initiative will be the next step in that process. Many of Dubai’s government bodies will come together to make it happen, including the Department of Finance (DOF) and Dubai Tourism and Commerce Marketing (DTCM).
The report will support the emirate’s plans for a full digital transition and aims to make Dubai the world’s smartest and happiest city, in line with the objectives of the UAE Centennial 2071 plan.
“Setting and activating a cashless payment framework will advance various aspects of economic activity in the Dubai, stimulate thoughtful spending, raise revenue and enhance cost effectiveness,” said His Excellency Abdulrahman Saleh Al Saleh, Director General of Dubai’s DOF.
His Excellency Younus Al Nasser, Assistant Director General of Smart Dubai, and CEO of the Dubai Data Establishment explained: “The Cashless Framework Report benchmarks four countries that have successfully led a full transition towards a cashless society. The Smart Dubai team working on the report used references from international studies to identify the benefits of transitioning towards a cashless society.”
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Going cashless will bring many advantages to the city, including economic benefits, greater health and safety standards and more. Following an unprecedented shift in hygiene protocols this year, the reduced physical contact involved in smart cashless transactions is a particular consideration after the outbreak the Covid-19 pandemic.