Syria has taken a major step towards reconnecting with the international financial system after Visa and Mastercard carried out their first international card transactions in the country.
The transactions were conducted on Wednesday, shortly after Washington formally removed Syria from its list of State Sponsors of Terrorism.
Editorial Insight
Key Highlights
Important points readers should notice.
This is more than a card-payment story: The significance lies in Syria reconnecting with international financial infrastructure after years of isolation.
The change is still at an early stage: Initial transactions are tests and phased services, not a full nationwide return to international banking.
Investment is the bigger objective: Easier payment infrastructure could help international businesses operate in Syria as the government seeks foreign investment.
Banking compliance will determine the pace: Syria's ability to rebuild correspondent banking links and meet international compliance standards will be crucial.
Qatar's QNB Group and Mastercard completed what QNB described as the first end-to-end international card payment in Syria. Separately, Visa conducted a live international transaction in cooperation with Lebanon-based Fransabank.
Syrian President Ahmed al-Sharaa also participated in Visa's test transaction, making a card payment at a restaurant in Damascus's historic Old City. Syria's Central Bank Governor Mohammed Safwat Raslan was present during the transaction.
The launch does not yet mean that international card payments are available throughout Syria. The Central Bank said the services followed months of technical preparation and testing and that nationwide coverage has not yet been achieved.
Editorial Analysis
Why This Matters
International payment access is a basic part of modern commerce. For Syria, reconnecting to Visa and Mastercard could make it easier for international visitors, businesses and eventually investors to conduct transactions inside the country. The development is also an early practical indicator of whether Washington's policy shift can translate into wider economic reintegration.
Visa said it plans to enable international visitors to use its cards in Syria as the system expands.
Mastercard's rollout through QNB will initially allow eligible Syrian merchants, including hotels, restaurants and government entities, to accept international Mastercard payments through point-of-sale terminals. The expansion will take place gradually and remain subject to regulatory approvals.
The development follows a major change in US policy towards Syria.
Washington formally removed Syria from its State Sponsors of Terrorism list on August 24. The designation had been in place since 1979 and had remained a major obstacle for international banks and investors considering transactions with the country.
Although broader US sanctions had already been eased, the terrorism designation continued to create significant legal and compliance risks for international financial institutions.
Syria's government has made restoring access to global finance and attracting foreign investment a central part of its economic strategy following the overthrow of Bashar al-Assad in December 2024.
The return of international card networks could therefore become an important practical step in that wider economic opening.
However, significant challenges remain. Syria's banking sector still needs to rebuild correspondent banking relationships, strengthen compliance systems and improve financial governance and cybersecurity before broader international integration can take place.
For ordinary consumers and businesses, the immediate change may therefore be limited. But for Syria's financial sector, the first international card transactions represent a visible sign that the country's economic isolation is beginning to ease.
