Syria marks first international card transaction in more than 15 years

Doha, Qatar - QNB Group, a prominent financial institution in the Middle East and Africa, has achieved a significant milestone by facilitating the first end-to-end international card payment transaction in Syria. This accomplishment signifies a crucial advancement in the nation's digital payment infrastructure.

The achievement follows QNB Group's earlier implementation of international card acceptance services in Syria, culminating in a complete payment cycle. This cycle encompasses a Mastercard credit card being utilized at a point-of-sale terminal, undergoing secure authorisation, and ultimately, the merchant receiving the funds through the banking system.

The new capability empowers eligible merchants in Syria, such as hotels, restaurants, and government entities, to accept international Mastercard credit card payments using QNB's point-of-sale terminals. This development benefits international cardholders by providing them with enhanced payment convenience, while simultaneously granting local merchants secure access to international payment acceptance capabilities.

Yousef Mahmoud Al-Neama, Group Chief Business Officer at QNB Group, expressed his thoughts on the achievement, stating, "The successful completion of the first international card transaction represents an important step in the development of Syria's payments landscape." He further elaborated, "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."

This transaction marks the first fully functional implementation of its kind in Syria, fulfilling QNB's commitment to aid the Central Bank of Syria in advancing the modernization of the country's payments infrastructure. QNB Group, QNB Syria, and Mastercard collaborated diligently to implement the solution in accordance with regulatory requirements and international standards for payment security and operational resilience.

Mastercard's Division President for West Arabia, Adam Jones, emphasized the significance of the milestone, stating, "At Mastercard, we are committed to working with the Central Bank of Syria and key ecosystem stakeholders to support the modernization of the country's payment infrastructure and broaden access to secure digital payments. The first transaction represents a landmark moment in that journey. Together with QNB Syria, we are helping advance payment acceptance across the market."