Sri Lanka, April 6 -- Marking a new milestone in Sri Lanka's digital economy, the launch of the "National QR Payment Promotion Programme" officially commenced today (06) under the patronage of President Anura Kumara Dissanayake.

Accordingly, with effect from today, the service charge levied on merchants for all LankaQR transactions up to Rs. 5,000 will be completely removed, according to the President's Media Division (PMD).

The primary objective of this initiative is to steer Sri Lanka towards a cash-lite economy with reduced reliance on coins and banknotes. Accordingly, financial institutions have taken steps to completely remove the Merchant Discount Rate (MDR) charged to merchants on all LankaQR transactions up to Rs. 5,000, effecti...