President Meets Bank Chiefs to Drive National QR Payment Rollout

COLOMBO (News 1st); Following the launch of the National QR Payment Promotion Initiative, President Anura Kumara Dissanayake chaired a meeting with the heads of banks and financial institutions this morning (06) at the Presidential Secretariat to discuss the successful implementation of the programme.

During the meeting, the President outlined the responsibility placed on banks and financial institutions to ensure the success of the National QR Payment Promotion Initiative, which was launched today as a key milestone in Sri Lanka’s digital transformation.

He also discussed the support that can be extended by the country’s banking system to make QR‑based payments more convenient and attractive to the public.

Extensive discussions were held on the urgent measures required to address potential obstacles in implementing the programme and to ensure its rapid adoption across society.

Central Bank Governor Dr. Nandalal Weerasinghe, addressing the meeting, noted that providing cash transaction services through automated teller machines incurs significant costs for the banking system. He explained that transitioning to the new digital transaction method would help reduce these costs. The Governor further emphasised that the QR‑based system offers a more efficient, reliable and secure method of conducting transactions for the public.

Representing the banking sector, Acting General Manager and Chief Executive Officer of the Bank of Ceylon, Y. A. Jayathilaka, said initiatives are already underway to encourage the public to conduct transactions through digital platforms. He affirmed that the banking system would extend its full support to the government’s new initiative and contribute towards steering the country towards a digital economy.