Compared with 2020, the volume of transactions on digital channels grew by a remarkable 158% Year-on-Year (YoY) in 2021, while the value of digital transactions increased by a corresponding 153% YoY. The results of these efforts are compelling as reflected in the massive uptake in digital payment options- both from customers and businesses,” Niranjan said. Similarly, merchants improved their cashless payment options with HNB MOMO, especially for cash on delivery services. As a result, the mobile solution for electronic payment cards holds a 50% market share in low-cost mobile POS terminals in Sri Lanka. “Developments in cashless payments are still only emerging.

Source: The Nation July 10, 2021 00:00 UTC