“Lanka’s digital online payments increasing”

Sri Lanka’s digital payments has increased by 70% in 2022 as against 2021 and this trend should continue and be encouraged said Governor Central Bank Dr. Nandalal Weerasinghe yesterday.

He said that the use of digital increased during the C-19 pandamic and there was a 40% increase during that time. He was speaking at the fifth LankaPay Technnovation Awards 2023 held yesterday at the Ballroom, Shangri-la Hotel, Colombo under the theme of ‘Innovation to the Core’.

Governor said that though the pandamic has ended steps should be taken to promote digital transactions in the future too ensuring it’s safety for users. “Central Bank too has taken several initials in this regard.” The award competition recognizes the banks, non-banking financial institutions as well as FinTechs who have steadfast to the course of enhancing customer convenience through payment technology innovations and promoting digital payments in the country.

“During the year 2021/22 alone, Sri Lanka saw a value of over Rs. 18 trillion being transacted via digital means through the LankaPay network,” said CEO, LankaPay Channa De Silva

The award competition is the only platform which recognizes these trailblazers who are the drivers of the digital transformation in the country.