New program launched to boost digital payments

The Ministry of Digital Economy has launched a special programme to promote digital payments, aiming to modernize financial transactions across the country.

Deputy Minister Eranga Weeraratne revealed to the media that approximately 1% to 1.5% of the annual GDP is spent on cash-based transactions, which often contribute to inefficiencies, fraud, and corruption.

As part of the initiative, the government plans to digitize all payments to state institutions. To support this transition, the ‘GovPay’ mobile application has been introduced, with 16 government institutions already integrated into the platform. More institutions are set to join starting in January.

The programme aims to enhance public service efficiency by reducing reliance on cash, minimizing irregularities, and offering more convenient services. According to Minister Weeraratne, fully digitizing government payments will streamline processes, reduce human labor, and curb corruption, benefiting citizens and the economy.

  • All
  • Australia News
  • Business News
  • Entertainment News
  • International News
  • Sports News
  • Sri Lanka News
    •   Back
    • India News
Load More

End of Content.

latest NEWS

  • All
  • Australia News
  • Business News
  • Entertainment News
  • International News
  • Sports News
  • Sri Lanka News
    •   Back
    • India News