Cabinet approves programme to accelerate QR-based digital payments

Colombo, March 24 (Daily Mirror) - The Cabinet Ministers has approved a new programme to accelerate the implementation of QR-based digital payments as part of the Government’s efforts to promote the digital economy.

The Government has identified the expansion of the digital economy as a national priority to improve economic efficiency, strengthen financial inclusion and enhance transparency in financial transactions. However, cash continues to be widely used for everyday retail payments in the country, limiting the growth of digital payment systems and reducing transaction transparency.

Authorities said that the LankaQR payment infrastructure is already in operation with the participation of more than 20 financial institutions and nearly 30 mobile applications, but its active usage remains relatively low. During the third quarter of 2025, about 274,000 transactions were carried out through the system, with a total value of approximately Rs. 1.18 billion, averaging around 90,000 transactions worth about Rs. 390 million per month. The average value of a QR-based transaction has been recorded at less than Rs. 5,000.

Taking these factors into consideration, and in line with proposals in the 2026 Budget, the Cabinet approved the proposal submitted by the President in his capacity as the Minister of Digital Economy to implement a programme to promote QR-code-based digital payments without charging any additional fee to either the sender or the recipient for transactions below Rs. 5,000.

The Government expects the move to encourage the public and businesses to shift from cash to digital payments and thereby strengthen the country’s digital financial ecosystem.