Sri Lanka plans 100% digital government transactions within 4 years

The Government of Sri Lanka aims to digitize all government transactions by 2030, driven by the Ministry of Digital Economy with public-private partnerships to facilitate the transition. Digital payments are one of the three generally-recognized pillars of digital public infrastructure (DPI), along with digital identity and data exchange systems.

In this light, the launch of the “Access Unlocked V2.0” digital payments program, organized by Mastercard, will feature innovative technologies such as Mastercard Soundbox and Softbots, enabling low-cost, digital payment acceptance for small and medium-sized enterprises (SMEs) at this event, marking their debut in South Asia. These tools, powered by Mastercard Merchant Cloud, allow small business owners to accept payments affordably, thereby promoting the digital transformation of Sri Lanka’s economy.

Mastercard SoundBox provides instant voice confirmation for digital payments, enabling replacing SMS notification checks with real-time transaction verification for busy retailers. It supports multiple payment methods such as NFC, UPI, Bharat QR, and digital wallets.

Mastercard SoftPOS (Software Point of Sale), often branded as Tap on Phone, transforms NFC-enabled Android smartphones or tablets into secure contactless payment terminals. It allows merchants to accept cards, mobile wallets, or wearable payments directly on their mobile device without requiring traditional, dedicated card reader hardware.

The event attended by Deputy Minister of Digital Economy Eranga Weeraratne highlighted the importance of low-cost digital payment solutions for small and medium-sized enterprises (SMEs) to enhance financial inclusion.

“The collaboration between the government and the private sector is crucial for empowering businesses and fostering sustainable economic growth,” Weeraratne says. “The government is committed to enhancing transparency through digital technology and integrating Sri Lanka into the global market, ensuring that all entrepreneurs can benefit from the burgeoning digital economy.”

Weeraratne confirmed just over a month ago that Sri Lanka’s biometric digital ID, the SL-UDI, will roll out by the end of this year as part of the government’s effort to digitalize public services.

Sri Lanka will push for 100 percent digital transactions in government by 2030, and a $15 billion digital economy. The Ministry of Industries and Entrepreneurship Development will be driving the change enabled by the digital economy ministry with strong private-public partnerships, Chathuranga Abeysinghe, deputy minister of Industry and Entrepreneurship Development, said at the gathering.

The 2030 strategy features several key projects led by the Information and Communication Technology Agency (ICTA), including the GovPay Platform, which will facilitate electronic payments for government services. It is projected to process over 2 billion Sri Lankan rupees (roughly US$21.5 million) in transactions by 2025. There are initiatives for sectoral digitization in agriculture, tourism, and logistics to enhance productivity, alongside plans for the National Transport Commission to implement electronic payment systems for public buses to minimize cash transactions.

Article Topics

digital identity  |  digital payments  |  digital public infrastructure  |  digital wallets  |  Mastercard  |  SL-UDI (Sri Lanka Unique Digital Identity)  |  Sri Lanka