The provision of cash transaction services through Automated Teller Machines (ATMs) adds a significant cost to Sri Lanka’s banking sector, and making the transition into alternatives a much more economical option, Central Bank Governor Dr. Nandalal Weerasinghe said this during a meeting with President Anura Kumara Dissanayake and the heads of banks and financial institutions, yesterday (6).

The meeting was held following the launch of the National QR Payment Promotion Initiative, with the attendance of President Anura Kumara Dissanayake and the heads of banks and financial institutions, at the Presidential Secretariat.

The President explained the responsibility entrusted to banks and financial institutions in ensuring the success of the National QR Payment Promotion Initiative. The President also discussed the support that can be extended by the country’s banking system to make this method more convenient and appealing to the public.

Extensive discussions were also held on the urgent measures required to address any obstacles encountered in implementing the programme and to ensure its rapid adoption across society.