Dubai is on its way to becoming a fully cashless city by 2026, marking a shift in how residents, businesses, and tourists pay for everyday services. The move is part of the Dubai Cashless Strategy, launched in October 2024 by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, with a goal to shift 90% of all transactions into digital formats.
The expected outcome is a potential AED 8 billion boost to the local economy each year, thanks to broader FinTech adoption and smoother digital integration across sectors. By 2033, the city is aiming to rank among the top five most cashless cities in the world.
Progress is already visible:
1. The Roads and Transport Authority (RTA) reports that 97% of its services are now digital. In 2024 alone, RTA recorded over 679 million rides and AED 4.4 billion in digital revenue.
2. New cashless Nol top-up machines in metro and tram stations have sped up transaction times by up to 40%.
3. Taxis now accept QR code payments, and free Wi‑Fi access on buses and at marine transport stops supports digital services.
Here’s what’s coming next to Dubai’s FinTech sector:
- City-wide digital payments when every shop, restaurant, and market stall is expected to accept digital payment by default
- Palm-vein recognition tech – a contactless payment method that lets you pay with your palm
- AI-backed transactions from bus stops to utility payments, everyday tasks will rely more on AI and seamless digital platforms.
Dubai is pushing ahead with its vision to be a city of the future, not only through tech-driven payments but also through larger urban development plans. Curious what’s coming next? Take a look at Dubai’s upcoming projects and photos of what the city could look like by 2040 — the future is already under construction.
