Visa and Mastercard: First international card electronic payment in Syria in 15 years
Visa and Mastercard, the world’s leading digital payment companies, announced in separate statements that they had facilitated the first international card-based electronic payment in Syria through their partners, ending a service suspension that followed the outbreak of the crisis in the country more than 15 years ago.
Following the arrival of the new authorities led by Ahmed al-Sharaa to power, several Western countries, most notably the United States, lifted harsh economic sanctions imposed on the previous regime after the events of 2011. Washington removed Syria from its list of state sponsors of terrorism days ago, ending a designation it had maintained for 47 years, which was accompanied by stringent economic restrictions that entrenched the isolation of Syria’s economy and banking system from the world.
In a statement on Thursday, Mastercard announced that it had completed, together with Banque du Liban (BDL), “the first international card payment transaction in Syria in more than 15 years,” a step it described as “an important milestone on the path to modernizing Syria’s payment system.”
Visa, the global leader in digital payments, stated in an announcement on Wednesday that it “tested the first international payment transaction” in Syria, a move it said “represents an important step in supporting the country’s financial services sector.”
It clarified that, in collaboration with BDL Group, acting as the acquiring financial institution, and Syrian company Bimera, the test “marks the beginning of a historic step toward expanding digital payment capabilities in the market, and providing a familiar, secure, and convenient means for international visitors to make payments.”
Bimera reported on Thursday that it had processed the first electronic payment using a Visa card.
The announcement came after the governor of the Central Bank, Safwat Rusalane, late on Wednesday, posted a video showing him seated at a café in Damascus with President al-Sharaa, who electronically paid the bill using a card.
Rusalane accompanied the video with the comment: “This is a new beginning, one in which we carry much hope and also responsibility. We will continue to work tirelessly to build a modern, reliable, and open financial system that aligns with the aspirations of Syrians and opens up new opportunities for them.”
