“Turning New Year transactions into QR payments will be a turning point” - President

President Anura Kumara Dissanayake stated that officials must provide the necessary impetus for society to embrace efficient practices.

He made these remarks while inaugurating the “National QR Payment Promotion Programme,” marking a significant milestone in the country’s digital economy.

Emphasizing that the nation must transition toward digital transactions to address certain complex social issues, the President noted that his objective is to transform the informal economy into a formal one.

He further stated that the government aims to build a $15 billion digital economy through sector-wide digitalization. He observed that while society possesses a strong transactional culture, the government faces the challenge of popularizing these new systems effectively.

“What comes to mind when we say QR? A tool used for fuel rationing. When it was mentioned that fertilizer would be distributed via QR, an opinion was formed that it was an attempt to cut fertilizer subsidies. Ultimately, QR has been reduced to a symbol of limitation. If introduced to general transactions, people might perceive it as another attempt at restriction. Therefore, a specialized educational program is essential,” the President remarked.

The President expressed confidence that the steps initiated would rapidly popularize all QR-based transactions across the country. He noted that banks and financial institutions bear a significant responsibility in this regard.

“Many financial companies are currently preparing advertisements for the Sinhala and Tamil New Year. If we can use this as a catalyst to turn Sinhala and Tamil New Year transactions into QR-code-based payments, it will mark a significant turning point. Then people will embrace it. Our society is ready to accept new things; however, if the innovation is not attractive or convenient, people will not adopt it,” he added.