Sri Lanka, March 24 -- 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 ...