Visa and Mastercard complete first international card transactions in Syria

Visa and Mastercard completed their first international card transactions in Syria on Wednesday, Aug. 27, days after the United States removed the country from its state sponsors of terrorism list. QNB Group and Mastercard said they completed the first end-to-end international card payment in Syria, while Visa separately tested a live transaction with Lebanon-based Fransabank. Syrian President Ahmed al-Sharaa took part in the Visa test at a restaurant in Damascus’s historic Old City, with Central Bank Governor Mohammed Safwat Raslan seated alongside him. The transactions came two days after the U.S. formally removed Syria from the list, a designation imposed in 1979 that had deterred international banks and investors even after Washington ended its broader sanctions program in December last year. Targeted measures remain against former President Bashar al-Assad and others. Visa plans to enable international visitors to use cards in Syria, while QNB is gradually expanding Mastercard acceptance among eligible merchants, subject to regulatory approvals.

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Visa and Mastercard complete first international card transactions in Syria - CoinPost Terminal