Sri Lanka, Sept. 28 -- The streets of Sri Lanka reveal the economic pulse of the nation through its small and medium enterprises (SMEs) which operate in the Pettah markets and rural village stores.

The backbone of our nation consists of over 75% of all businesses which employ millions of people. The financial operations of SMEs become complicated because they need to handle outdated payment systems and limited credit options and high transaction fees.

Silent revolution

A fruit vendor in Galle operated solely with cash transactions before this time. She can now get instant payments from any smartphone user who scans a simple printed QR code. No expensive machines, no waiting for change, no risk of handling large sums of cash. The basic ...