82% increase confirms e-Dirham's growing popularity in the cashless payment industry
Federal government revenue collected through the e-Dirham reached more than AED4 billion ($1.09 billion) in the first quarter of 2018, up 82 percent compared to the year-earlier period.
The increase confirms e-Dirham’s growing popularity in the cashless payment industry for government services, a statement said.
It added that the number of e-Dirham cards issued in Q1 exceeded 3.3 million while the number of transaction receipts reached more than 3.5 million over the same period.
Saeed Rashid Al Yateem, Assistant Under-Secretary of Resources and Budget Sector at the Ministry of Finance, emphasised the ministry’s commitment to continuously upgrade the e-Dirham system.
"The e-Dirham system represents an important achievement in the digital payment gateway, due to its efficiency, accuracy and ease of use, in addition to guaranteed high levels of security in cashless transactions," Al Yateem said.
The average speed of processing any transaction through the e-Dirham system is just 1.02 seconds, while the average speed of processing a transaction through point of sale devices is 1.1 seconds.