Sri Lanka Launches National QR Payment Initiative with Merchant Fee Waiver

The initiative is being hailed as a new milestone in Sri Lanka's digital economy. A key objective of the fee waiver is to enable small-scale businesses to accept digital payments without incurring additional costs. The push towards a cash-lite economy specifically aims for reduced reliance on coins and banknotes.

The initiative is being jointly implemented by the Ministry of Digital Economy and the Central Bank of Sri Lanka. The launch event, which took place under President Anura Kumara Dissanayake, was held at the Presidential Secretariat. In addition to steering Sri Lanka towards a cash-lite economy, the programme also aims to enhance economic efficiency, financial inclusion, and financial transparency.

The "National QR Payment Promotion Programme" was officially launched today, April 6th, under the patronage of President Anura Kumara Dissanayake. Effective from today, the merchant service charge (MDR) for all LankaQR transactions up to Rs. 5,000 has been completely removed by financial institutions. This initiative aims to steer Sri Lanka towards a cash-lite economy.