The Cabinet of Ministers has approved a proposal to implement a programme promoting QR code-based digital payments, with no additional fees charged to either sender or receiver for transactions below Rs. 5,000.
The initiative aims to accelerate the adoption of digital payments as part of broader efforts to improve economic efficiency, financial inclusion, and financial transparency.
Low Usage Despite Existing System
Cabinet Spokesperson Minister Nalinda Jayatissa noted that while the LankaQR system is already connected to more than 20 financial institutions and nearly 30 mobile applications, its usage remains relatively low.
According to official data:
- 274,000 transactions were recorded in Q3 2025
- Total transaction value reached approximately Rs. 1.18 billion
- Monthly average: 90,000 transactions worth around Rs. 390 million
- Average transaction value remains below Rs. 5,000Policy Direction and Future Plans
Responding to questions on potential transaction limits and tax reductions, Minister Jayatissa said authorities are working on a broader strategy to promote digital payments nationwide.
The proposal was presented by the President in his capacity as Minister of Digital Economy, in line with the 2026 Budget, and received Cabinet approval.
Towards a Cash-Light Economy
The fee-free threshold is expected to encourage everyday retail transactions via QR codes, reducing reliance on cash and supporting Sri Lanka’s transition toward a more digitally integrated and transparent economy.
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