"Mastercard" Reconnects Syria to the Global Payment Network

SadaNews - Mastercard announced the completion of its readiness to process international banking card transactions within Syria, marking the first such move in over 15 years and paving the way for re-establishing the Syrian market's connection to the global payment network.

This step allows point-of-sale transactions to be carried out using internationally issued Mastercard cards, enhancing the digital payment infrastructure in Syria and supporting efforts to modernize the financial and banking sectors to meet the requirements of the digital economy.

Additionally, this initiative provides a channel connecting local financial institutions with the global Mastercard network, setting the stage for the gradual resumption of international payment services, as well as supporting the development of the national payment system and enhancing financial inclusion, according to a statement from the Central Bank of Syria.

Connecting Syria to the Global Payment Network

The central governor, Abdul Qader Al-Hossary, stated in the announcement that reconnecting Syria to the global payment network via Mastercard will give the national economy a "strong boost and open the door for international investors."

He added that this step will provide new opportunities for businesses and individuals by enhancing digital payment solutions and facilitating their acceptance, in addition to providing more efficient channels for remittances from Syrians abroad.

For his part, Adam Jones, Mastercard's regional president for the West Arab region, stated that the company is working to utilize its global expertise and technologies to support the establishment of a strong and secure payment system in cooperation with the Central Bank.

This move reflects a trend towards enhancing Syria's financial integration with global markets and supporting the digital transformation in the banking sector, which could help facilitate commercial operations and stimulate economic and investment activity in the upcoming phase, especially following the lifting of Western sanctions imposed on the previous regime.

The Central Bank of Syria announced on September 23, 2025, the signing of a memorandum of understanding with Mastercard to cooperate in developing the infrastructure for digital payment systems in Syria, exchanging expertise, and promoting financial inclusion.