Visa and Mastercard have begun enabling international card payments in Syria, marking a significant development in the country’s gradual return to the global financial system. Mastercard completed an international card transaction with QNB Group, while Visa conducted a live transaction with Lebanon’s Fransabank. Syrian President Ahmed al-Sharaa participated in Visa’s transaction demonstration in Damascus. The services are currently limited and expected to expand gradually. The development follows the United States’ removal of Syria from its state sponsors of terrorism list, although other targeted sanctions remain.
Visa and Mastercard Launch International Card Payments in Syria After US Removes Terrorism Designation
The entry of Visa and Mastercard for international card transactions in Syria is a major step in the country's financial reintegration after Washington removed Syria from the list of state sponsors of terrorism.
On August 27, Syria received international card payments from Visa and Mastercard, a significant step for the country’s banking sector and wider economic recovery.
The deals were announced days after the United States officially removed Syria from its list of state sponsors of terrorism, a designation it had held since 1979.
The move is one of the most obvious signs yet that Syria is slowly re-joining the global financial system after decades of sanctions, restrictions and international isolation.
QNB Group and Mastercard have completed the world’s first end-to-end international card payment transaction in Syria, Reuters reported Wednesday.
Separately, Visa said it had tested its first live international transaction in Syria, in partnership with Lebanon's Fransabank, a sign of growing confidence among international financial institutions.
Ahmed al-Sharaa Participates in Visa Transaction Test
Syrian President Ahmed al-Sharaa personally participated in the Visa transaction test, paying by card at a restaurant in the historic Old City of Damascus.
State-run video channel Syrian Response released footage of the transaction showing Ahmed al-Sharaa completing the transaction and sitting alongside Central Bank Governor Mohammed Safwat Raslan during the demonstration.
Following extensive technical preparations and testing, these transactions marked the start of international card payment services inside Syria, the central bank told Reuters.
Officials said services are now live, but the network is not yet available nationally and will be rolled out gradually over the coming months.
The move is part of a wider effort by the Syrian government to reconnect financially and draw foreign investment after years of economic disruption.
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US Policy Shift Removes Longstanding Barrier
The payments started after Washington formally removed Syria from its state sponsors of terrorism list two days earlier, clearing a big obstacle for international banks.
In December 2025, the US lifted comprehensive sanctions against Syria, but some targeted sanctions on Bashar al-Assad and related persons and entities remain in place.
Rights abusers, drug traffickers, Islamic State affiliates, al Qaeda-linked organizations, Iranian proxy groups and other sanctioned entities continue to face restrictions.
Prior sanctions relief had not altered the long-held view by financial institutions that the terrorism designation posed a material compliance and legal risk that curtailed investment opportunities and international banking relationships.
Syrian Foreign Minister Asaad al-Shibani told Reuters that Damascus sees the move as the last hurdle to greater economic re-integration ahead of the lifting of the designation.
The hope is that the decision will help to reconnect the country to international financial markets, bolster investment and help wider economic reconstruction efforts, said Asa'ad al-Shibani.
The central bank of Syria said preparations for the operations of Visa and Mastercard had been under way for months and were not directly linked to Washington’s recent decision.
But officials said the relaxation of restrictions and a better regulatory environment have helped to boost the confidence of international banks and fintech companies.
Visa, Mastercard and QNB Outline Expansion Plans
Visa said the transaction was a step toward broader adoption of the initiative that will allow international visitors to use their payment cards in Syria.
The QNB Group said Syrian merchants, including hotels, restaurants and government entities, can now accept international Mastercard payments at designated point-of-sale terminals.
The bank said more eligible merchants will be onboarded gradually under a phased roll-out program subject to regulatory approvals and operational requirements.
Visa's transaction was with acquiring financial institution Fransabank Lebanon and Paymera, a Syrian payments technology company owned by Syria’s sovereign fund.
It also said it was working to rebuild correspondent banking relationships and increase official channels for international transfers and cross-border payments.
Sprouts News notes that for Syria to be reintegrated into the financial world, it will take a long time and stronger compliance systems, governance frameworks, cybersecurity protections, risk management standards, and regulatory oversight.
The successful launch of Visa and Mastercard transactions is a major step toward Syria’s reintegration into the global financial system and the attraction of future investment, but challenges remain.
