Only 400,000 People Used QR Payments: Deputy Minister Eranga Weeraratne
07-Apr-2026.
Deputy Minister of Digital Economy Affairs Engineer Eranga Weeraratne stated that 99% of Sri Lanka’s retail trade still depends on cash, and that during the last quarter of last year, only 400,000 people used the QR payment system.
He said that if individuals register using their bank accounts, QR payments could be enabled even for small purchases such as buying a tender coconut from a roadside vendor. To support this shift, agreement has been reached with financial institutions to remove service charges for transactions below Rs. 5,000. Plans are also underway to introduce prize draws and major promotional campaigns.
He made these remarks while addressing the official launch of the National QR (LankaPay) Payment Promotion Programme held on April 6 at the Presidential Office.
The Deputy Minister further stated that currency notes and coins worth Rs. 1.48 trillion are currently in circulation, and that the goal is to digitalise this heavily cash-dependent economy. He added that the banking system has already been significantly digitalised, with 89% of Sri Lankans above 18 years holding bank accounts.
Although Lanka QR was introduced several years ago, its benefits have not reached the wider public. The newly introduced National QR Payment Promotion Programme aims to take the system forward.
He emphasised that while QR technology exists in Sri Lanka, payments through it remain limited. He said international institutions often question why Sri Lanka fails to fully utilise the digital technologies it introduces, adding that a change in mindset is also necessary alongside economic transformation.
Central Bank Governor Dr. Nandalal Weerasinghe, speaking at the event, said two major changes were introduced after reviewing the reasons behind the system’s earlier lack of popularity. Firstly, no fees will be charged for transactions below Rs. 5,000, and he thanked the banks and LankaPay for their cooperation.
Secondly, he noted that person-to-person transfers have become popular in countries such as India because customers can send money without visiting a shop. With the new system, printing and displaying QR codes will allow transactions anytime and anywhere.
