Syria Reconnects to Global Payments as Visa and Mastercard Go Live

In a significant move toward financial reintegration, Visa and Mastercard have processed their first international card transactions in Syria. The payments, completed on Wednesday, come just two days after the United States formally removed Syria from its list of state sponsors of terrorism.

Qatar's QNB Group announced it had completed what it called the world's first end-to-end international card payment in the country, working with Mastercard. Separately, Visa said it tested its first live international transaction in Syria in cooperation with Lebanon-based Fransabank and Paymera, a Syrian payments technology firm.

Syrian President Ahmed al-Sharaa participated in the Visa test, making a card payment at a restaurant in Damascus's Old City, according to state media. Central Bank Governor Mohammed Safwat Raslan was also present.

The US designation, in place since 1979, had remained a major deterrent for international banks and investors. While Washington lifted comprehensive sanctions in December, the terrorism listing continued to pose legal and compliance risks. Its removal on Monday has cleared a significant hurdle.

Syrian Foreign Minister Asaad al-Shibani had earlier expressed hope that lifting the designation would reconnect Syria with the global financial system and boost investment. The new government, which took power after rebels toppled Bashar al-Assad in December 2024, has made restoring access to global finance a central priority.

Visa said it plans to enable international visitors to use their cards while in Syria, describing the test as a step toward wider acceptance. QNB's system now allows Syrian merchants, including hotels and restaurants, to accept international Mastercard credit cards, with a phased rollout of additional merchants planned subject to regulatory approvals.