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19 March 2024

No more cash payment for majority of vehicle companies

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By Staff

Corporate entities with a fleet of 50 vehicles or more registered in their traffic files are no longer able to pay for certain transactions in cash, as the e-wallet has become the sole payment method for their category, said the Roads and Transport Authority (RTA).

Services related to vehicle licensing, registration, transfer and the change of ownership will from now on have to be paid through the e-wallet by corporate entities of the mentioned seize.

Earlier firms with a fleet of 500 or more vehicles, as well as companies with 250 vehicles were instructed the same, and firms with a fleet of 10 vehicles will be covered under the scheme later this year, said Mohammed Abdul Kareem Nimaat, Director of Vehicles Licensing at the RTA Licensing Agency.

The e-wallet service is an alternative payment method offered to companies and institutions in Dubai, where account holders can deposit a certain amount in the e-wallet account via the Nol website using a credit card or bank transfer, or cash or check deposit through an Al Ansari Exchange outlets.

“The e-wallet service, which is open 24/7 throughout the year, safeguards companies’ rights as it eliminates potential of fraudulent processes on the part of some representatives, and also enables businesses to easily review their financial reports through their own e-wallet accounts at any time and accordingly accomplish the required tasks,” said Nimaat.

“Shifting cash transactions to the e-wallet has significantly reduced the processing workload in RTA’s centers which in turn will cut clients thronging RTA customers service centers by reducing the number of visiting representatives of companies, and at the same time slash the waiting time and contribute to delivering better services to customers,” he added.

The number of e-wallet transactions conducted by companies and institutions has topped 22,815 since this service was launched, said the RTA last week.