The Central Bank of Sri Lanka issued a payment systems circular imposing a maximum per-transaction fee of LKR 15 for payments made through GovPay, the platform for digital payments to government institutions. The cap applies to all members of the Common Electronic Fund Transfer Switch, including licensed banks and licensed finance companies, and comes into operation from 1 February 2025. The measure is issued under the Payment and Settlement Systems Act No. 28 of 2005 to promote and facilitate Common Electronic Fund Transfer Switch usage and encourage adoption of digital transactions.
Central Bank of Sri Lanka 2025-01-27
Central Bank of Sri Lanka caps GovPay transaction fees at LKR 15 for CEFTS members
The Central Bank of Sri Lanka has set a maximum per-transaction fee of LKR 15 for payments via GovPay, effective 1 February 2025. This applies to all members of the Common Electronic Fund Transfer Switch, including licensed banks and finance companies, under the Payment and Settlement Systems Act No. 28 of 2005. The initiative aims to promote digital transaction adoption.