Visa and Mastercard have processed their first international payment card transactions in Syria, as the country moves to restore links with the global payments system.
The transactions follow the formal decision by the US government to remove Syria from its state sponsors of terrorism list.
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Qatar’s QNB Group collaborated with Mastercard to execute an international card transaction in the country. Concurrently, Visa confirmed the completion of its first live cross-border payment test in Syria in partnership with Lebanon-based Fransabank.
In a statement, Mastercard said QNB Syria processed the first point-of-sale (POS) transaction at an approved local merchant using an internationally issued Mastercard card. It followed the technical reconnection of Syria’s payments ecosystem to its global network.
The transaction demonstrates the “readiness of the infrastructure” established to enable internationally issued Mastercard cards to be accepted in Syria, the payment network said.
Mastercard West Arabia division president Adam Jones said: “At Mastercard, we see this first transaction as an important milestone in the evolution of Syria’s payments ecosystem. By working closely with the Central Bank of Syria and QNB Group, we are helping advance a more connected, secure and inclusive payments environment.
“This achievement marks an important first step towards expanding access to global payment capabilities and broader international card acceptance across the market.”
Visa tested its first live international transaction in Syria in partnership with Fransabank Lebanon as the acquiring financial institution and domestic payment technology company Paymera.
The Central Bank of Syria said the transactions mark the official start of international card acceptance services in the country, Reuters reported. The authority noted that while service rollout remains limited across the country, technical preparations and testing had been underway for several months.
Visa Senior Vice President and Group Country Manager for the North Africa, Levant, and Pakistan (NALP) region Leila Serhan said: “At Visa, our mission is to connect the world through the most innovative, reliable and secure payments network.
“Over the past several months, we have taken important steps to support the reintroduction of digital payments in Syria and greater participation in the global digital economy within applicable legal, regulatory and compliance requirements, working closely with partners and stakeholders to help lay the foundations for a more connected and digitally enabled economy.
“We are excited to have successfully tested live transactions today as we plan to enable international visitors to use their Visa cards while in Syria.”
