Srilanka, July 20 -- The economy losses about 1.5% of the GDP annually to manage cash which includes ensuring security while handling and transporting cash and operating cash dispensation machines said a top official of LankaPay.
"This amount could be saved and used for productive ventures of the economy if the country transitioned to a fully digital economy using digital payments," said LankaPay CEO Channa de Silva.
Officials of the Ministry of Digital Economy, ICTA and LankaPay were elated over the growth in the number of digital transactions and the number of state institutions linked to the GovPay, the online payment platform designed to facilitate transactions for government services at a media briefing in Colombo last week to announ...