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Syria restores credit card payments in effort to rejoin the global economy
NewsFeedSyria has authorised banks to work with Visa and Mastercard as part of efforts to rejoin the global economy. The EU has agreed to restore fuller trade ties with Damascus, though Syria still seeks removal from the US ‘state sponsors of terrorism’ list.Published On 12 May 2026
Visa and Mastercard Return to Syria After 15-Year Absence, Signaling ...
The return of Visa and Mastercard to Syria after a 15-year absence marks a pivotal moment in the country's gradual reintegration into the global financial system. The resumption of operations by these dominant payment networks signals a fundamental shift in Syria's economic landscape, potentially catalyzing broader financial recovery and international business engagement.The 15-year hiatus represents one of the longest periods any major economy has operated without access to the world's two largest payment networks. During this extended isolation, Syrian businesses and consumers were forced to rely on cash-based transactions and alternative payment methods, severely limiting cross-border commerce and hampering economic development. The absence of these payment rails effectively cut Syria off from the modern digital economy, creating barriers for both domestic growth and international trade.The strategic implications of this resumption extend far beyond simple payment processing capabilities. Visa and Mastercard serve as critical infrastructure for global commerce, enabling everything from tourism payments to international business transactions. Their return suggests a broader normalization of Syria's position in the international financial system, potentially paving the way for increased foreign investment and economic partnerships.Financial Infrastructure RevivalThe restoration of international payment network access addresses a fundamental infrastructure gap that has constrained Syria's economic potential. Modern economies rely heavily on electronic payment systems for efficiency, security, and transparency in financial transactions. The resumption of these services could significantly boost Syria's economic recovery by enhancing global financial connectivity and trust, as businesses and consumers regain access to internationally recognized payment methods.For Syrian banks, the return of Visa and Mastercard represents an opportunity to modernize their service offerings and reconnect with international banking networks. This development could accelerate the digitization of Syria's financial sector, enabling banks to offer contemporary services such as online payments, international transfers, and merchant processing solutions that have become standard elsewhere in the region.The timing of this resumption also reflects broader geopolitical shifts and evolving sanctions frameworks that have gradually opened pathways for limited financial engagement. While c...
Syria Rejoins Visa, Mastercard Networks After 15-Year Financial Isolation
International card payments resumed in Syria this weekend for the first time in more than 15 years as banks reconnected to Visa and Mastercard networks after years of sanctions and financial isolation, according to Crypto Briefing. Mastercard completed the technical integration for debit and credit card transactions on Friday.
Visa and Mastercard Transactions Conducted in Syria for the First Time ...
This trial marks the first end-to-end Visa/Mastercard payment authorized and finalized within Syria under existing regulations. This follows a memorandum of understanding between the Central Bank of Syria and Mastercard dated September 23, 2025, and a strategic roadmap signed with Visa in December 2025 to create a digital payment ecosystem.
