{"id":561030,"date":"2026-03-24T11:54:11","date_gmt":"2026-03-24T11:54:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/561030\/"},"modified":"2026-03-24T11:54:11","modified_gmt":"2026-03-24T11:54:11","slug":"cabinet-backs-fee-free-qr-payments-under-rs-5000","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/561030\/","title":{"rendered":"Cabinet backs fee-free QR payments under Rs. 5,000"},"content":{"rendered":"

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The Cabinet has approved a proposal to implement a programme to promote QR code-based digital payments, with no additional fees charged to either the sender or the receiver for transactions below Rs. 5,000.<\/p>\n

The move is aimed at accelerating the adoption of digital payments as part of broader efforts to enhance economic efficiency, financial inclusion, and transparency.<\/p>\n

Although the LankaQR system is currently linked with more than 20 financial institutions and nearly 30 mobile applications, its usage remains relatively low, Cabinet Spokesperson Minister Nalinda Jayatissa said.<\/p>\n

In the third quarter of 2025, around 274,000 transactions were recorded via LankaQR, with a total value of approximately Rs. 1.18 billion. On average, this translates to about 90,000 transactions per month, with a total value of around Rs. 390 million. The average transaction value remains below Rs. 5,000, he added.<\/p>\n

Asked whether the government plans to introduce an upper limit on transactions and reduce additional taxes on consumers, Minister Jayatissa said authorities are working toward a broader plan to promote digital payments.<\/p>\n

The proposal was presented by the President in his capacity as Minister of Digital Economy, in line with the 2026 Budget, and received Cabinet approval. (Newswire)<\/p>\n

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