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The Ministry of Digital Economy has unveiled a specialized program aimed at boosting digital payment adoption.
Deputy Minister Eranga Weeraratne informed the Daily Mirror that approximately 1% to 1.5% of the nation’s annual gross domestic product (GDP) is expended on transactions involving physical currency.
He emphasized that cash-based payments can contribute to greater risks of fraud and corruption, as well as inefficiencies in the transaction process.
As part of the strategy, the government intends to digitalize all payments to public institutions, according to Minister Weeraratne.
He elaborated that the ‘GovPay’ mobile app has been launched to support this transition, with 16 government entities already integrated into the system.
Additional organizations are expected to be added to the platform starting in January.
This initiative aspires to fully transition government payments to digital platforms, thereby improving efficiency across public services.
Advancing digital payments will minimize manual effort, eradicate anomalies and corruption, and offer more convenient services to the public, the Deputy Minister noted.
