President Mobilizes Banking Sector for National QR Payment Drive 📈

President Anura Kumara Dissanayake met with heads of state and private banks today to formalize the rollout of the National QR Payment Promotion Initiative, a key pillar in Sri Lanka’s digital transformation strategy. • Strategic Objectives The initiative aims to shift the public away from cash-heavy transactions toward a more efficient digital economy. The President urged banks to make QR payments more "convenient and appealing" to ensure rapid grassroots adoption. • Economic Impact & Cost Reduction Central Bank Governor Dr. Nandalal Weerasinghe highlighted that high costs associated with ATM cash services place a significant burden on the banking system. Transitioning to QR-based platforms is expected to: Reduce operational overheads for financial institutions. Provide more secure and reliable transaction methods for the public. • Banking Sector Commitment CEOs from major institutions including Bank of Ceylon, People’s Bank, Commercial Bank, Sampath Bank, and HNB affirmed their support. The ICT/BPM and financial services sectors are expected to lead this transition, with banks already implementing digital encouragement programs to align with the national agenda. • Key Leadership Presence The meeting included the Deputy Minister of Digital Economy and the Senior Presidential Adviser on Digital Economy, signaling a coordinated effort between the government and the banking and finance sector to modernize the national payment infrastructure.