Government revenues from the e-Dirham system during the first nine months of this year stood at Dh5.8 billion ($1.58 billion), while the number of e-Dirham transactions rose by 20 per cent year on year.

The transactions reached 15 million during the first nine months of 2016 as compared to around 12.5 million transactions during the same period in 2015.

The number of electronic services carried out through the e-Dirham system during Q1 to Q3 grew by 5.8 per cent year on year. The system saw 28.9 million electronic services in the first nine months of 2016, as compared to 27.3 million transactions during the same period in 2015.

The number of e-Dirham cards issued till the end of September 2016 grew by 41 per cent to reach 2.25 million cards, as compared to 1.6 million cards issued till September 2015.

The number of electronic services carried out through the e-Dirham system since the launch of the second generation of e-Dirham in 2011 by Ministry of Finance, in partnership with the National Bank of Abu Dhabi, has so far risen to 127 million, while the total value of the payment, settlement transactions and
collection of revenues is around Dh27.5 billion.

Saeed Rashid Al Yateem, Assistant Undersecretary of Resources and Budget Sector, Ministry of Finance, said: “The performance figures of the e-Dirham system, the national alternative to cash and a pioneering government initiative in the domain of smart payment systems, in the first nine months of this year are in line with the goals of the overall policy of the Ministry of Finance and the expected growth rates for government revenues.”

“On our part, we strive to further enhance these performance figures by facilitating public access to the e-Dirham services and allowing clients to carry out payment transactions with the utmost comfort, ease and efficiency levels possible,” Al Yateem added.

He said the value and efficiency of the system would be increased by further digitisation of transactions and services, benefiting from the widespread usage of smartphones in the UAE. Better mobile payment options through smartphones were being made available to individuals as well as public and private sector companies in the UAE, he said.

Following the launch of its new services, the e-Dirham system has served more than 5,000 government service fee payment transactions at federal ministries and local departments. These fees can be paid by using the e-Dirham digital wallet or by direct debit from a bank account. –TradeArabia News Service