People’s Bank supports National QR Payment Adoption Programme

Marking a significant milestone in Sri Lanka’s digital transformation journey, the National QR Payment Adoption Programme was recently launched with the objective of accelerating the country’s transition towards a cash-lite economy.

The initiative aims to reduce reliance on physical currency by promoting the widespread use of QR-based digital payments, enabling individuals and businesses to conduct fast, secure and convenient transactions via mobile devices.

As a leader in digital banking, People’s Bank aligns with this landmark national initiative, reinforcing its commitment to building a digitally empowered economy. The Bank supports the programme through its flagship digital wallet ‘People’s Pay,’ which offers a seamless platform for QR-based transactions and a range of everyday financial services.

In line with the programme’s objectives, customers can perform QR transactions without incurring additional charges, while merchants benefit from zero fees on transactions. To further encourage adoption, valuable gifts will be awarded to selected winners among LANKAQR users, enhancing engagement and promoting digital payment usage across the country.

People’s Bank’s participation reflects its ongoing digital transformation strategy, which has evolved beyond traditional online banking to deliver an integrated, lifestyle-oriented financial ecosystem. The Bank continues to set industry benchmarks by offering secure, efficient and user-friendly digital platforms, ensuring customers have uninterrupted access to banking services anytime, anywhere.

At the heart of this initiative is People’s Pay, a sophisticated digital wallet designed to streamline everyday financial transactions while catering to the evolving needs of the modern consumer. The application features a seamless self-registration process, comprehensive tri-language support, and secure storage of payment details, ensuring both convenience and security for users.

In addition, the People’s Pay app enables customers to make real-time bill payments and QR-based transactions with exceptional ease and efficiency. The facility to link multiple bank accounts further enhances flexibility and convenience, while the transaction limit provides users with greater financial control and improved security.

In a strategic move to bolster the national QR adoption programme, the People’s Pay app now facilitates Peer-to-Peer (P2P) QR transfers. This functionality allows users to generate both static and dynamic QR codes, enabling efficient transactions without the need to disclose sensitive account information.

The National QR Payment Adoption Programme represents a critical step in advancing Sri Lanka’s digital payments landscape. By fostering fast, secure and transparent transaction methods, the initiative aims to ensure inclusive participation in the digital economy, empowering citizens across all regions and communities.

People’s Bank remains committed to driving innovation, strengthening financial inclusion and supporting national development through strategic digital initiatives. As the country moves towards a more connected and cash-lite future, the Bank continues to play a pivotal role in shaping a resilient and inclusive digital financial ecosystem.

Source: Daily News