Syria marks first international card transaction in more than 15 years with Mastercard and QNB Group
- The transaction follows the reconnection of the country’s payments ecosystem to Mastercard’s global network
- The first payment paves the way for international card acceptance in Syria
Mastercard and QNB Group have processed Syria’s first international card payment in more than 15 years, marking an important milestone in the modernization of Syria’s payments ecosystem.
Following the technical reconnection of Syria’s payments ecosystem to Mastercard’s global network, QNB Syria processed the first point-of-sale (POS) transaction at an eligible approved local merchant using an internationally issued Mastercard card.
The transaction establishes a foundation for the acceptance of international payments in Syria, helping connect consumers, businesses and financial institutions to the global digital economy and support the country’s longer-term economic development.
“The completion of Syria’s first international card transaction in more than 15 years is an important step in modernizing the country’s payments ecosystem. This achievement demonstrates the value of collaboration between the public and private sectors in enabling secure international payment acceptance, facilitating commerce and supporting sustainable economic development,” said H.E. Mohammed Safwat Raslan, Governor of the Central Bank of Syria.
Commenting on the achievement, Yousef Mahmoud Al-Neama, Group Chief Business Officer at QNB Group, said, “The successful completion of the first international card transaction represents an important step in the development of Syria’s payments landscape. By connecting merchants to international payment capabilities, we are enabling businesses to offer customers greater choice and convenience while supporting the transition towards a more modern and secure digital payments ecosystem. This achievement also reflects the Group’s continued commitment to payment innovation and digital transformation across the markets in which it operates.”
The successful transaction demonstrates the readiness of the infrastructure established to enable internationally issued Mastercard cards to be accepted in Syria. It also represents an important step towards broader secure digital payment acceptance across the market.
“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,” said Adam Jones, Division President, West Arabia, Mastercard.
This progress reflects Mastercard’s broader commitment to supporting a modern, secure and inclusive payments ecosystem in Syria. The company will continue to work with the Central Bank of Syria, financial institutions and other ecosystem partners to advance digital payment adoption and contribute to the continued modernization of the country’s financial ecosystem.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
www.mastercard.com
About QNB
QNB Group is a leading financial institution in the Middle East and Africa and one of the most valuable banking brands in the region. Present in more than 28 countries across Asia, Europe and Africa, it offers tailored products and services supported by innovation and backed by a team of over 31,000 professionals dedicated to driving banking excellence worldwide.
Source : Mastercard
