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Syria Debuts First Local Payment Card with International Reach
(MENAFN) Syria has introduced its first locally issued electronic payment card that can be used internationally, marking a significant step toward expanding digital payments and reconnecting the country’s banking system with international financial networks.
The new card was unveiled by QNB Syria in partnership with Mastercard at an event attended by Central Bank of Syria Governor Mohammad Safwat Raslan.
The central bank described the launch as “a new milestone in the development of Syria’s electronic payment and transfer system,” highlighting the progression from restoring international card acceptance to issuing domestic cards connected to global payment networks.
The development follows Syria’s recent reconnection to the Mastercard network. The country also completed its first transaction using an international Mastercard after more than 15 years, according to the central bank.
Authorities are pursuing two main objectives at the same time: strengthening domestic infrastructure for electronic payments and financial services while restoring links between Syria’s banking and monetary system and international payment networks.
The central bank said these efforts are intended to give consumers and businesses more payment options while improving compatibility between different parts of the electronic financial system.
The new card was unveiled by QNB Syria in partnership with Mastercard at an event attended by Central Bank of Syria Governor Mohammad Safwat Raslan.
The central bank described the launch as “a new milestone in the development of Syria’s electronic payment and transfer system,” highlighting the progression from restoring international card acceptance to issuing domestic cards connected to global payment networks.
The development follows Syria’s recent reconnection to the Mastercard network. The country also completed its first transaction using an international Mastercard after more than 15 years, according to the central bank.
Authorities are pursuing two main objectives at the same time: strengthening domestic infrastructure for electronic payments and financial services while restoring links between Syria’s banking and monetary system and international payment networks.
The central bank said these efforts are intended to give consumers and businesses more payment options while improving compatibility between different parts of the electronic financial system.
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