No more coins and notes—cash is on its way out.
Dubai has ambitious plans to become a cashless city this year.
The Dubai cashless strategy will ultimately shift all payments across both government and private sectors to digital platforms.
First announced in October 2024, the initiative aims to phase out physical currency, such as notes and coins, in favour of digital payment methods across the emirate.
Cashless transactions are projected to make up around 90 per cent of all payments by the end of this year, with the move expected to boost the economy by more than Dhs8 billion annually.
However, becoming cashless does not mean the end of money itself. Instead, payments will be made digitally, primarily through banking apps and credit cards rather than physical cash.
The strategy will also focus on advancing digital payment innovations, including AI-powered solutions and contactless technologies, to expand the range of payment options.
Dubai Finance has launched a broad awareness and promotional campaign to support the rollout of the Cashless Strategy, which aims to make up to 90 per cent of transactions across the government and private sectors cashless by the end of 2026.
One of the most significant recent milestones in Dubai’s shift toward a cashless future came in late May 2026.
Parkin has announced that all cash payments at parking meters will be phased out from Monday, June 1, while payments via nol card will still be accepted. Instead, users will need to pay through the Parkin app or via SMS, replacing the need for physical coins.
The cashless strategy is also expected to impact tourists. The Central Bank of the UAE has introduced a new initiative allowing visitors to instantly open digital bank accounts upon arrival in the country.
Called the Tourist Identity initiative, it enables tourists to set up an account within minutes of landing in the UAE and gain immediate access to banking services, including digital debit cards for instant use.
It will also allow tourists to use the UAE’s Jaywan domestic card programme, as well as make payments and transfers through the Aani system.
Previously, Emirates and flydubai signed an agreement to promote digital payments among international tourists who typically rely on cash.
Both airlines aim to encourage travellers to adopt cashless payment methods through initiatives designed to make digital transactions more accessible.
In 2025, DIFC and Dubai Finance partnered to conduct specialised workshops to help businesses transition to digital payments. The collaboration also includes AI-driven initiatives aimed at enhancing value for workers, tourists, and the wider community through cashless adoption.
The city’s long-term goal is to make 100 per cent of transactions paperless, meaning traditional cash-based practices such as bargaining at souqs or using spare change may soon disappear.
The Dubai Cashless Strategy was launched on Tuesday, October 1, 2024, following a meeting of the Executive Council of Dubai chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai. The initiative aims to position the city among the top five cashless cities in the world.Dubai has also outlined its ambition to expand access to a wide range of financial technology services across the city.
The move toward a cashless system has been designed with consumers, payment service providers, and merchants in mind, aiming to deliver greater convenience and faster transactions across the emirate.
During the meeting, the city also reviewed broader strategic plans covering real estate, education, and the future of transport in Dubai.
If you have spare change and are unsure what to do with it, you can also explore ideas for how to spend Dhs1 in Dubai.
