Wednesday Mar 25, 2026
Wednesday Mar 25, 2026
Wednesday, 25 March 2026 00:24 - - {{hitsCtrl.values.hits}}
In a bid to boost digital economy, the Cabinet of Ministers on Monday approved implementing a program promoting QR code-based digital payments without charging any additional fees to either the sender or the recipient for transactions below Rs. 5,000.
In line with proposals outlined in the 2026 Budget, the Government aims to accelerate the shift from cash-based transactions to secure, traceable digital platforms, thereby strengthening transparency and expanding financial inclusion across the country.
“The Government has identified the promotion of the digital economy as a national priority aimed at enhancing economic efficiency, financial inclusion and financial transparency,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said at the weekly post-Cabinet meeting media briefing yesterday.
Despite the availability of digital infrastructure such as LankaQR, which is currently operational with over 20 financial institutions and nearly 30 mobile applications, he said active usage remains relatively low. “Cash continues to dominate everyday retail transactions, limiting transparency and slowing the growth of digital financial ecosystems,” he added.
Citing official data, Dr. Jayatissa said around 274,000 transactions were recorded through LankaQR during the third quarter of 2025, amounting to a total value of around Rs. 1.18 billion. This translates to an average of about 90,000 transactions per month, valued at roughly Rs. 390 million. Authorities noted that the average value of a QR-based transaction is less than Rs. 5,000, indicating that the platform is primarily used for small-scale retail payments.
“The move is expected to encourage greater adoption of digital payment methods among consumers and small businesses, particularly for low-value daily transactions,” he said.
The proposal to this affect was submitted by President Anura Kumara Dissanayake, in his capacity as Digital Economy Minister.
