Anura Kumara Dissanayake today launched the “National QR Payment Promotion Programme” at the Presidential Secretariat, marking a major step toward expanding digital payments across Sri Lanka.
Under the new initiative, electronic transactions of up to Rs. 5,000 will not incur any service fees. Financial institutions have also agreed to fully remove the Merchant Discount Rate (MDR) on all LankaQR transactions within this limit, allowing small-scale businesses to accept digital payments without additional charges, effective from April 6.
The programme is aimed at encouraging a cash-lite economy by reducing dependence on physical currency while increasing the adoption of digital payment systems nationwide.
Official data indicates that 89% of Sri Lanka’s adult population already has access to banking services. Meanwhile, the CEFTS system handles approximately 68 million transactions each quarter, with a total value of around Rs. 6.3 trillion.
The LankaQR platform, supported by over 20 financial institutions, is currently accepted at around 450,000 merchant locations across the country.
