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Why the UAE’s cashless push hinges on mobile payments growth - Finance Middle East

Why the UAE s cashless push hinges on mobile payments
growth

UAE targets fully cashless economy by 2030 as mobile payments market grows 12.3% annually.

by Eric Karobia

Credit
In the dynamic and competitive landscape of financial technology, particularly within the United Arab Emirates, customer
loyalty has emerged as the cornerstone of long-term success. Such discussions have evolved far beyond initial user
acquisition or first impressions. Today, what truly differentiates leading digital financial platforms is their ability to remain
consistently relevant, reliable, and trusted over time.

As the country accelerates its digital transformation endeavours, supported by forward-looking initiatives such as
the Central Bank of the UAE’s Fintech Strategy and the UAE Digital Economy Strategy, the mobile financial services
sector is experiencing unprecedented momentum and is expected to become fully cashless by 2030. The UAE’s mobile
payments market is also projected to register a compound annual growth rate of 12.3% during the forecast period from
2025 to 2030. This progress brings with it not just opportunity but also the responsibility to meet significantly higher
expectations around customer engagement, safety, and financial inclusion.

Loyalty is a relationship ,

Loyalty in mobile finance is not a passive indicator of user retention. It is a dynamic, ongoing, and reciprocal relationship that
requires sustained commitment and value delivery. This relationship is anchored in operational reliability, carefully sculpted
intuitive design, and a deep understanding of users’ diverse needs and already lived experiences.

In a demographically diverse country like ours, where multiple nationalities coexist and financial behaviours vary widely,
platforms are increasingly going beyond generic engagement tactics. To achieve a real impact, they are adopting a user-first
approach rooted in cultural understanding, emotional intelligence, and strategic empathy. This enables them to serve not
only individual and business users, but also the entire community, in ways that are both relevant and purposeful.

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