The Central Bank of Sri Lanka (CBSL) has announced that the Government Digital Payment Platform (GDPP) will be launched this year, following its successful pilot testing in 2024. 

This initiative is part of a three-year plan to enhance the legal and institutional framework for the nation’s payments ecosystem, Governor Dr. Nandalal Weerasinghe revealed during the presentation of the CBSL’s Policy Agenda for 2025 and Beyond.

The GDPP will enable real-time payments to Government institutions that lack digitalised databases via internet banking portals and mobile payment apps. Dr. Weerasinghe emphasised that this move aligns with broader efforts to modernise Sri Lanka’s payment systems.

In 2024, the CBSL introduced a new Real-Time Gross Settlement (RTGS) system adhering to ISO 20022 standards for domestic transactions. Plans are underway to extend this compliance to cross-border transactions in line with global timelines. 

Additionally, the CBSL will review the access and licensing regimes for interbank payment systems and payment services. 

Effective 1 January 2025, the Merchant Discount Rate (MDR) for LANKAQR was increased to 1% from 0.5%, aiming to encourage financial institutions and FinTechs to promote the system more vigorously.

Recognising risks linked to digital payments, the CBSL is prioritising the protection of public trust by monitoring fraud patterns and issuing relevant guidelines.

 In 2024, a Circular was issued to safeguard customer accounts from unauthorised payment app access, with these measures set to take effect from March 2025. 

CBSL will also conduct nationwide public awareness campaigns on digital payment benefits, security features, and potential threats such as fraud and scams.

Dr. Weerasinghe highlighted the importance of a stable and efficient payment system for maintaining a robust financial system. To this end, the CBSL is focused on revising legislation and upgrading payment infrastructure to foster trust and encourage digital payment adoption.

The Payment and Settlement Systems Act is currently being revised to enhance oversight, regulation, and innovation within the payment ecosystem.

 Subsidiary legislations, such as the Guidelines on Minimum Compliance Standards for Payment-related Mobile Applications, are also slated for revision in 2025 to support the expansion of retail digital payments in Sri Lanka.

These initiatives mark a significant step toward modernising the country’s financial infrastructure, ensuring safety, efficiency, and inclusivity in the digital payments space.

The Government Digital Payment Platform (GDPP), branded as GovPay, is an initiative aimed at improving citizen-government interactions and streamlining payment processes for various government services in Sri Lanka. 

This project aims to establish a centralized digital platform, serving as a convenient “Citizen’s One Stop Shop” for the Government Services, catering to individuals and businesses.

. This contributes to the optimization of government service delivery by boosting efficiency in financial transactions, and reducing administrative burdens, and costs, leading to more time-effective and cost-efficient services for the public.

Dr. Deepal Perera, a paediatrician at the Lady Ridgeway Hospital for Children, has expressed serious concern about the significant decline in the country’s birth rate over the past decade, warning of its potential long-term consequences.

“In 2013, there were 350,000 births. By 2024, this number has dropped to 228,000. This decline is alarming and could have far-reaching effects on the country’s future,” Dr. Perera stated.

He also highlighted an increase in hospitalizations among children due to various illnesses, a trend that was not prevalent two decades ago.

Rising Childhood Health Issues

Dr. Perera pointed out an increase in childhood health problems, including diabetes, cancer, and mental disorders.

• Childhood Diabetes: The number of cases has risen considerably.
• Childhood Cancer: Reports indicate a notable increase in diagnoses.
• Mental Disorders: There is a growing prevalence of mental health issues among children.

“These trends suggest that if we do not act now, the future will not be promising for the next generation,” he warned.

Dr. Perera called for urgent attention to address the dual challenges of declining birth rates and deteriorating childhood health, emphasizing that proactive measures are essential to secure a better future.

Sixteen years ago on 8th January 2009, I received a phone call that Lasantha was attacked and taken to the Kalubowila Hospital. I was not a politician then but a Banker and a friend of Lasantha. Each year on 8th January I visit Lasantha’s grave to remind myself and commit to the pursuit of justice. The tension that filled the air on the day of his funeral still surrounds some of us as there has been no justice or closure for his family and friends.
It was widely believed and later supported by evidence that his exposure on corruption on the purchase of military aircrafts was connected to his murder. Lasantha was due to give evidence in court on 12th January in defense of his exposure on the MIG transaction undertaken by the Ministry of Defense, which may have exposed those in authority, But prior to his appearance in court Lasantha was murdered on 8th January 2009.
Now we have a government comprising of individuals when in opposition, always argued for media freedom and the safety of media personnel. We live in expectation that investigations and the judicial process will move quickly in bringing justice and closure to his murder.
January 8th reminds us that 34 journalist and media personnel have been murdered or gone missing in recent times. The vast majority of them were Tamil speaking. Many journalists were murdered or intimidated during the 26-year civil war between Government and Tamil Tiger rebels.
50 Year old cartoonist Prageeth Eknaligoda who went missing on 24th January 2010 two day’s before incumbent President Mahinda Rajapakse’s Election has yet to be found.
Sandya Eknaligoda, Prageeth’s wife is still relentlessly pursuing Justice. Keith Noyahr , the Associate Editor of the Nation, was abducted and severely beaten before been released in 2008. Krishantha Cooray, Keith Noyahr’s boss, pursued justice and spoke out troubling those in Authority. Krishantha was forced to leave the country as authorities attempted to frame charges against him in another case.There are many who have been forced to flee the country because of exposures of corruption, poor governance and murder.

Sri Lanka’s performance on media freedom as indicated in the World Press Freedom Index of Reporters Without Borders has deteriorated further within the past 5 years.
The Online Safety Bill which was improperly forced through Parliament has been used by Government authorities to intimidate Journalist and social media activists.
While we agree that there has to be media ethics, we need to establish a self-regulatory process rather than Government assuming that role. Let’s live in hope that the newly elected government whose members when in opposition were critical of attacks on media personnel and the Online Safety Bill, will protect the freedom of expression, media and social media activists and bring to justice those who have committed crimes, while promoting a democratic open society where every individual could live with dignity.