Syria Returns To Global Payments Network Via Mastercard After 15 Years Hiatus

DAMASCUS, May 8 (Bernama-SANA) Mastercard announced the completion of the necessary technical procedures to process international bank card transactions within Syria, a first in over 15 years, paving the way for reconnecting the Syrian market to the global payments network, Syrian Arab News Agency (SANA) reported.

This step enables point-of-sale transactions using internationally issued Mastercard cards, enhancing the readiness of Syria’s digital payments infrastructure and supporting efforts to modernise the financial and banking sector in line with the requirements of the global digital economy.

The new technology also provides a link between local financial institutions and the global Mastercard network, contributing to creating a suitable environment for the gradual and secure resumption of international payment services, while also supporting the development of the national payment system and promoting financial inclusion.

Governor of the Central Bank of Syria, Abdulkader Husrieh, affirmed that reconnecting Syria to the global payments network via Mastercard will give a strong momentum to the national economy and open doors for international investors.

He added that the move will also provide new opportunities for companies and individuals, enabling customers to benefit from enhanced digital payment solutions and easier acceptance, in addition to providing more efficient channels for remittances from Syrians abroad.

“At Mastercard, we are working to leverage our global expertise and technologies to support the development of a robust and secure payment system in cooperation with the Central Bank of Syria,” Adam Jones, Regional Director for the Western Arab Region at Mastercard, said.  

-- BERNAMA-SANA