Visa and Mastercard complete first international card transactions in Syria

Visa and Mastercard processed their first international card transactions in Syria on August 27, more than 15 years after such payments last operated and two days after the United States removed Syria from its list of state sponsors of terrorism. Following the technical reconnection of Syria's payments ecosystem to Mastercard's global network, QNB Syria completed a point-of-sale transaction at an approved local merchant with an internationally issued Mastercard, which QNB and Mastercard described as the first end-to-end international card payment in the country. Visa separately tested a live transaction with Lebanon-based Fransabank and Syrian payments firm Paymera, with President Ahmed al-Sharaa making a card payment at a restaurant in Damascus's Old City beside Central Bank Governor Mohammed Safwat Raslan. Raslan, QNB Group Chief Business Officer Yousef Mahmoud Al-Neama and Mastercard West Arabia Division President Adam Jones framed the milestone as public-private progress toward secure digital acceptance and longer-term economic reconnection. The central bank said services are starting after months of preparations but are not yet nationwide, with QNB enabling Mastercard acceptance at hotels, restaurants and government entities in a phased rollout as Damascus seeks correspondent banking ties.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.