Sri Lanka will launch the “National QR Payment Promotion Programme” tomorrow under the patronage of President Anura Kumara Dissanayake, with the service charge on LankaQR transactions up to Rs. 5,000 set to be removed.
The President’s Media Division said financial institutions have decided to completely remove the Merchant Discount Rate (MDR) charged from merchants for all LankaQR transactions up to Rs. 5,000, effective from April 6, enabling small-scale businesses to accept digital payments without additional costs.
The initiative aims to promote a cash-lite economy and reduce reliance on coins and banknotes while expanding the use of digital payment systems across the country.
According to official data, 89% of Sri Lanka’s adult population currently has access to banking facilities, while the CEFTS system processes around 68 million transactions per quarter, valued at Rs. 6.3 trillion.
The LankaQR system, supported by more than 20 financial institutions, is currently accepted at approximately 450,000 merchant locations nationwide.
However, despite the existing infrastructure, currency in circulation remains at Rs. 1.48 trillion, while LankaQR transactions stood at around Rs. 395,000 per month as of the third quarter of 2025.
To encourage adoption, a special raffle programme will also be introduced for consumers and merchants, with prizes of up to Rs. 1 million. Winners will be selected on a weekly and monthly basis.
A nationwide promotional campaign in Sinhala, Tamil and English will also be launched, alongside a “Social Visibility Index” covering all 25 districts to ensure transparency in the programme’s implementation.
Officials said the initiative is aimed at promoting fast, secure and transparent digital payments while expanding participation in Sri Lanka’s digital economy. (Newswire)
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