The value of electronic payments in the United
Arab Emirates (UAE) continues to rise much faster than the total
volume, data by the Central Bank of the UAE shows.

The Central Bank of the UAE has reported a
2.4% increase in the volume of transactions carried out on the last
quarter of year compared with the corresponding period a year ago,
to 19.4m.

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The total value of transactions showed a more
impressive rise, increasing by 7.9% in the three months to December
on the year-ago quarter to AED21.43bn ($5.83bn).

Compared with the third quarter of 2011, there
was a 6.63% quarter-on-quarter increase in transaction volume to
the end of December to 19.4m. The total value of payments in the
fourth quarter was 5% higher than the previous quarter.