Visa has entered into a collaboration with the Central Bank of Syria and other financial authorities for a strategic roadmap implementation aimed at Syria digital payments integration.
The initiative is designed to support Syria’s entry into the global digital economy, with Visa launching operations in the country and introducing a phased digitisation plan for the payments sector.
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The initial focus will involve collaborating with licenced financial institutions to establish a secure payments infrastructure.
This will include the issuance of payment cards and the introduction of digital wallets that use worldwide standards such as EMV chip technology and tokenisation, ensuring security and immediate global interoperability.
Visa noted that for merchants, it will facilitate the adoption of the Visa Acceptance Platform, which allows for the deployment of open, cost-effective acceptance solutions.
These include Tap to Phone and QR code technologies, intended to accelerate the creation of an accessible and inclusive payments network across Syria.
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By GlobalDataThe approach is expected to benefit micro, small, and medium enterprises (MSMEs), which are said to play a significant role in Syria’s economy.
By enabling these businesses to participate in the digital economy, the plan aims to support creation of jobs and economic participation.
Visa North Africa, Levant and Pakistan, senior vice president Leila Serhan said: “A reliable and transparent payment system is the bedrock of economic recovery and a catalyst that builds the confidence required for broader investment to flow into the country.
“This partnership is about choosing a new path, where Syria can leapfrog decades of legacy infrastructure development and immediately adopt the secure, open platforms that power modern commerce.”
To further support the development of a robust payments ecosystem, Visa said that it will invest in targeted programmes focused on capacity building and the development of local talent.
The company will also introduce initiatives to support local entrepreneurs develop and expand new payment solutions, leveraging Visa’s global platform and connecting with regional and international fintech partners.
Central Bank of Syria governor Abdulkader Husrieh said: “The vision presented by Visa offers a powerful path forward to accelerate our modernisation agenda, enhance transparency, and provide our people and businesses with the tools they need to rebuild and thrive.”
Earlier this week, Visa, Pismo and credit-led neobank Circle Asia Technologies announced a partnership to introduce an AI-powered PayLater card in Vietnam.
The new product, described as Vietnam’s inaugural AI-powered PayLater card, is set for phased release starting early 2026.
