QNB Group in collaboration with Mastercard issues first internationally accepted payment card in Syria

Doha, Qatar - QNB Syria, a subsidiary of QNB Group, and Mastercard have announced the launch of a locally issued Mastercard card in Syria. The card launch, which took place in the presence of the Governor of the Central Bank of Syria, H.E. Mohammed Safwat Raslan, represents a significant advancement in the country's digital payments landscape, providing eligible QNB Syria customers with access to international payment capabilities.

The collaboration between QNB Syria and Mastercard has been ongoing, with recent milestones including the ability to accept international cards in the market, reconnecting Syria's payment ecosystem to Mastercard's global network, and processing the first transaction using an internationally issued Mastercard card in the country in over 15 years.

This latest milestone extends the partnership from acceptance to issuance, as QNB Syria begins issuing locally issued Mastercard cards. The first transaction using the newly issued card was successfully processed at an international point-of-sale terminal, demonstrating the bank's end-to-end card issuance and payment acceptance capabilities.

The locally issued card aims to extend secure, globally connected payment options to eligible QNB Syria customers, offering them simple, secure, and convenient payment experiences while granting access to Mastercard's global payments network. The issuance of these cards will occur through a phased and controlled rollout to ensure operational readiness and support the expansion of advanced payment products and services in Syria.

H.E. Mohammed Safwat Raslan emphasized the importance of advancing a secure, inclusive, and interoperable electronic payments ecosystem, which is crucial for strengthening Syria's banking infrastructure and enhancing connectivity with global payment networks.

Mastercard's Adam Jones highlighted the company's commitment to connecting customers to secure digital payment experiences and the global economy through this collaboration.

Khalid Ahmed Al Sada, Senior Executive Vice President of QNB Group Corporate and Institutional Banking and Chairman of QNB Syria, expressed the significance of providing Syrians with access to international payment capabilities for the first time in over a decade, marking a significant step forward for the country's payments landscape and reflecting QNB Group's commitment to providing customers with greater choice, security, and connectivity.