In a recent podcast discussion hosted by Women's Policy Action Network, Daraz Head of Corporate Affairs, Public Policy and ESG, Anishka de Zilva, said Sri Lanka would strengthen its digital payments system to foster growth in the e-commerce sector. He emphasized that it is extremely important to do so.
Mr de Zilva noted that the growth of digital payments in Sri Lanka has stalled and called for the banking sector to play a more active role in promoting these services.
“The adoption of further digital payment solutions has been slow and more stakeholders need to come together to drive this forward and encourage consumers to switch to digital payments,” she said.
Lamenting the dominant cash system, Mr de Zilva said that by shifting costs from merchants to consumers, it would create a competitive market for digital payment providers, and that digital payments would benefit both merchants and consumers. We believe that there is a possibility that its spread will be promoted.
Sri Lanka's JustPay system has dramatically lowered its fee structure and recently launched its services JustPay Web and PayMe, allowing businesses to implement the system at a fraction of the cost of existing payment gateways.
Mr de Zilva was speaking at an event organized by the Advocata Institute, sponsored by the Kingdom of the Netherlands.
Emphasizing the resilience and adaptability of women entrepreneurs, De Zilva said: “During the Sri Lankan crisis, 40% of women-owned businesses used online sales as a coping mechanism, compared to around 40% of men-owned businesses. It was 27%.” This statistic highlights the potential of e-commerce as a tool for women's economic empowerment and stability in difficult times. To further support the integration of women into digital commerce, Ms. de Zilva said that initiatives such as ICTA's Suhrriya program and Daraz's own Arya Shakti program, which aim to improve the ICT capabilities of women entrepreneurs, I admired it. She said, “About 17,500 women entrepreneurs have been trained through this program.”
Mr. de Zilva further highlighted the untapped potential of e-commerce in Sri Lanka, pointing to the opportunities arising from the lack of internet and smartphone penetration and the access to global markets that e-commerce provides.
“The target market for e-commerce is likely to grow over the next three to five years, and this is a huge opportunity,” she said, citing the lower costs and setup costs of e-commerce stores compared to traditional brick-and-mortar stores. The emphasis was on being quick. Mortar shop. (TP)
