Syria Swipes Back Into Global Finance as Visa and Mastercard Process First International Card Payments
Visa and Mastercard ran initial tests as banks and merchants prepare for broader acceptance of foreign cards after years of cash dominance.
- On Wednesday, Syrian President Ahmed al-Sharaa completed the first international card transaction in more than 15 years at a Damascus restaurant, using Visa one day after Washington removed Syria from its state sponsors of terrorism list.
- Washington officially delisted Syria on August 24, 2026, removing a significant deterrent imposed since 1979. Secretary of State Marco Rubio cited "positive actions and further commitments" by the Syrian government to distance the nation from international terrorism.
- Visa and Mastercard, working with Lebanon-based Fransabank and local firm Paymera, facilitated the test transaction. Central Bank Governor Mohammed Safwat Raslan called the event a "new beginning," noting months of technical preparation enabled the shift.
- Merchants including hotels and restaurants can now process international cards, potentially easing remittances and foreign investment flows. QNB group chief business officer Yousef Al Neama stated connecting merchants offers "greater choice and convenience" for the economy.
- While the delisting removes a major compliance hurdle, Syria remains on some watch lists, requiring ongoing alignment with anti-money laundering standards. Future success depends on Syrian institutions delivering consistent performance and regulators maintaining clear, transparent rules.
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18 Articles
Visa, Mastercard Launch Payments in Syria After U.S. Lifts Terror Designation
The Syrian president took part in the Visa test, making a card payment at a restaurant in Damascus. Lifting the 'last obstacle' would reconnect Syria with the global financial and economic system and boost investment, Syrian foreign minister said
What was impossible for more than a decade and a half has now become a reality in Syria.
Syria Swipes Back Into Global Finance as Visa and Mastercard Process First International Card Payments
Damascus, Syria — A president taps a gold card at a cafe table in the Old City. Coffee appears. The terminal beeps. For most places, routine. Here, history. On Wednesday, Syrian President Ahmed al-Sharaa paid with a Visa card at a restaurant. Central Bank Governor Mohammed Safwat Raslan sat beside him. The moment, captured on video and shared by government accounts, came one day after the U.S. removed Syria from its state sponsors of terrorism l…
The Visa and Mastercard financial services groups have announced that they have made international card payments in Syria. This is a first in more than 10 years. - Syria: Visa and Mastercard announce the first card payments in years (International).
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