Are you ready for a cashless economy?

THE queue at my local takeaway food stall stretches onto the pavement.

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It's a Tuesday night, and everyone's clutching their phones, waiting to pay for burgers, kottu, fried rice, or that essential packet of dinner. The elderly shopkeeper squints at each QR code through his reading glasses, occasionally asking someone to hold their screen steadier. Two years ago, he only accepted cash. Now, even he's gone digital.

This scene plays out across Colombo, Kandy, Galle, and even the smallest towns in our island. We're heading toward a cashless economy, whether we're ready or not. But are we truly prepared for what this means?

The transformation has been remarkable. Remember when getting change was a daily battle? When did conductors on buses carry bags bulging with notes and coins? Those days are fading fast. Digital payments have exploded since the pandemic, and there's no going back. From three-wheeler rides to temple donations, almost everything can now be paid for with a tap or scan.

The convenience is undeniable. Nowadays, we don't have to worry about exact change for our groceries or carry a bulky wallet when taking our family out for shopping.

Many people are running small online businesses entirely through mobile payments. They never touch cash from a customer, yet their businesses thrive.