Paytm CEO for Travel and COO for Consumer Payments Vikash Jalan – Pic by Ruwan Walpola
- Says modern tourism depends on seamless, invisible payments and destinations become more attractive when travellers do not worry about currency or acceptance
- Notes with UPI acceptance in Sri Lanka, Indian arrivals boosted; opines country could attract 1 m Indians annually if payments become fully frictionless
- Stresses digital payments must reach micro-merchants and SMEs, enabling homestays, guides, tuk-tuk drivers and fishermen to earn instantly, become visible to all
- Suggests creating a national fintech-tourism task force to build a unified digital journey for travellers, make India-Sri Lanka travel corridor most seamless in the region
By Charumini de Silva: Paytm CEO for Travel and COO for Consumer Payments Vikash Jalan on Wednesday urged Sri Lanka to position itself as the “most frictionless, trusted, and convenient overseas destination” for Indian travellers, insisting that digital payments and fintech infrastructure will be just as critical as flights, hotels, and marketing in shaping the country’s next phase of tourism growth.
Speaking at the India-Sri Lanka Tourism Connect forum on the theme “Role of Fintech in Tourism Experiences,” Jalan said modern tourism is increasingly defined by action and ease, not advertising, and that seamless payment experiences are now fundamental to destination choice, visitor satisfaction, and spending levels.
“A traveller shouldn’t have to worry about currency, conversion, or acceptance. When payments disappear into the background, destinations become instantly more attractive,” he pointed out.
He explained that payments are often invisible when they work smoothly, but “painfully visible” when they don’t; affecting not only the individual tourist, but also a destination’s revenue, reputation, and repeat visitation.
A frictionless payment layer, he said, creates a self-reinforcing cycle; destination choices expand, travellers increase, revenues rise, and experience quality improves, helping that destination win in a highly competitive regional market.
Jalan stressed that India’s payments ecosystem is now among the most advanced in the world, driven by Unified Payments Interface (UPI), which processed 85 billion transactions last year, accounting for over 83% of all non-cash retail payments.
“India has gone from ‘cash-first to mobile-first in less than a decade’ and Sri Lanka’s rapid progress in digital payments places it on a parallel track,” he said.
He said over 67% of Sri Lanka’s merchant transactions now run through digital channels, and with UPI acceptance enabled in Sri Lanka in 2024, Indian travellers can simply ‘scan and pay’ as they would at home.
“This changes everything,” Jalan said, pointing to the sharp rise in Indian arrivals.
He noted that Sri Lanka saw 430,000 Indian visitors in 2024, up from 300,000 the previous year, and has already welcomed over 450,000 Indians in the first 10 months of 2025. “If Sri Lanka reaches its projected 3 million annual tourist arrivals, at least 1 million could come from India alone, especially if Sri Lanka becomes a fully frictionless UPI-enabled destination,” he added.
Jalan described the opportunity as transformational, particularly with the next wave of outbound Indian travellers emerging from tier-2 and tier-3 cities. These new travellers are value-conscious, but digitally confident.
“They trust Indian apps, Indian payment systems and Indian digital journeys. If Sri Lanka gets the experience right, it becomes closer than Bangkok, more convenient than Dubai and more interesting than many Southeast Asian markets,” he said.
To unlock this potential, Jalan argued that payment acceptance must be universal, extending beyond hotels and big retailers to micro-merchants, homestays, guides, tuk-tuk drivers, craft sellers, fishermen and local eateries.
He outlined how fintech can bring thousands of Sri Lankan small and medium enterprises (SMEs) into the formal digital economy, making them discoverable and bookable, while enabling transparent pricing and instant settlements.
“Imagine a fisherman in Jaffna getting paid instantly through QR, or a small homestay in Yala earning digitally from Indian travellers. When you solve trust and transparency, participation increases and prices stabilise naturally,” he opined.
He added that digital payments generate valuable insights to personalise tourism offerings whether for families heading to beaches, couples preferring hill country, or younger groups seeking nightlife and adventure. “A mature payments ecosystem allows Sri Lanka to curate experiences at scale,” he said.
Jalan proposed developing a national fintech–tourism task force bringing together Government, tourism authorities, banks, fintech companies and travel platforms to address issues such as cross-border settlements, QR standardisation, and merchant on-boarding and regulatory clarity.
He said this could evolve into a unified marketplace allowing travellers to discover, book, pay and experience everything in one digital journey.
Jalan said fintech is no longer an add-on, but the invisible backbone of modern tourism. “Imagine a traveller who plans on Paytm, lands in Colombo, discovers local gems, moves around easily, pays instantly, books the next experience on the go and returns home already planning the next visit. That is what happens when payments and travel work together,” he said.
“India has fintech. Sri Lanka has the most charming destination. It’s time to connect them and build the world’s most seamless travel corridor,” he added. Paytm wants Sri Lanka to build “world’s most seamless travel corridor” for Indian tourists | Daily FT
