Srilanka, May 15 -- A recent decision by the Central Bank (CB) to double the Merchant Discount Rate (MDR) for QR code transactions, raising it from 0.5 percent to 1 percent, has ignited strong criticism from a leading digital payments expert and former Central Banker.

Dr. Dharmasri Kumaratunga, who held key roles as a former Central Banker, Secretary of the Ministry of Technology, Telecommunications Regulatory Commission, and Chairman of ICTA, has voiced noteworthy opposition to the move.

Notably, he played a crucial role in overseeing digital payments at the CB, particularly during the tenure of former CB Governor Indrajith Coomaraswamy.

Dr. Kumaratunga currently serves as a Consultant at MasterCard and an Independent Director at U...