Sri Lanka’s government is to introduce a national payment platform to facilitate digital commerce and digital transactions.
The cabinet approval has been granted for the said proposal presented by a committee of senior officials as per the recommendations made by the Central Bank and the Ministry of Finance.
The most convenient method used by public in obtaining goods and services, is the international credit card such as Visa, MasterCard, and American Express.
However, various reasons including its charges have discouraged the use of credit cards by majority of the public.
Government institutions such as Sri Lanka Customs, Department of Inland Revenue, Department of Excise and other businessmen are less interested in using this method as the charges are increased according to the value of the transaction.
The government intends to address these concerns when designing the new payment platform.