UAE residents to use ID card for payments by 2015

The UAE residents may be able to make payments and purchases using their national ID cards by 2015.

About Dh51 million worth payments or purchases made by UAE residents in 2015 will be through an e-wallet system of the UAE Central Bank.

The e-wallet system, an initiative as part of Central Bank’s draft strategic and operational plan 2014-2016, will use national ID card to identify the users and replace cash for financial transactions, according to an joint announcement made by the Central Bank and Emirates Identity Authority ( Emirates ID ) on Tuesday.