- As Sri Lanka moves into upper middle income and beyond, the country aims to grow its digital economy by providing new opportunities to digital entrepreneurs and foster new efficiencies in all sectors through enhanced digital services for all. In this context, the Economic Intelligence Unit (EIU) of the Ceylon Chamber of Commerce held an interactive roundtable discussion in March 2016 with leading digital entrepreneurs who have a particular focus on e-commerce. Challenges in the online payments space were identified as a key constraint faced by them. The study is based on in-depth interviews and an online survey with e-commerce firms across multiple verticals, online payment service providers, and relevant government institutions.
- This edition of the EIU’s Strategic Insights series aims to highlight the current challenges with online payments in Sri Lanka and the importance of amending regulations in order to improve the climate for businesses in this space and strengthen investor confidence. Further in-depth research would be required to identify specific bottlenecks to the industry and strategies for overcoming these challenges. Robust and constructive dialogue with all stakeholders would be a good starting point for addressing these and paving the way for a vibrant e-commerce sector in Sri Lanka.