Sri Lanka, March 24 -- The Cabinet of Ministers has granted approval for a proposal aimed at promoting QR code-based digital payments by ensuring that no additional charges are levied on either the sender or the receiver for transactions valued below Rs. 5,000.

The government has identified the promotion of a digital economy as a national priority, with a view to enhancing economic efficiency, financial inclusion, and transparency.

Despite these objectives, Sri Lanka continues to rely heavily on cash for day-to-day retail transactions, thereby limiting the growth of transparency and the broader digital ecosystem, according to a statement by the Department of Government Information.

At present, more than 20 financial institutions and ap...