QNB Group, a leading financial institution in the Middle East and Africa, has announced the successful completion of the first end-to-end international card payment transaction in Syria, marking an important step in the development of the country’s digital payments infrastructure.
The achievement follows QNB Group’s earlier introduction of international card acceptance capabilities in Syria and completes the full payment cycle, from a Mastercard credit card being used at a point-of-sale terminal and securely authorised, through to the merchant receiving the funds through the banking system.
The new capability enables eligible merchants in Syria, including hotels, restaurants and government entities, to accept international Mastercard credit card payments through QNB point-of-sale terminals. This provides international cardholders with greater payment convenience while giving local merchants access to secure international payment acceptance capabilities.
Commenting on the achievement, Yousef Mahmoud Al-Neama, Group Chief Business Officer at QNB Group, said: “The successful completion of the first international card transaction represents an important step in the development of Syria’s payments landscape. By connecting merchants to international payment capabilities, we are enabling businesses to offer customers greater choice and convenience while supporting the transition towards a more modern and secure digital payments ecosystem. This achievement also reflects the Group’s continued commitment to payment innovation and digital transformation across the markets in which it operates.”
The transaction represents the first fully operational implementation of its kind in Syria and delivers on QNB’s commitment to support the Central Bank of Syria in advancing the modernisation of the country’s payments infrastructure. QNB Group, QNB Syria and Mastercard worked closely to implement the solution in line with applicable regulatory requirements and international standards for payment security and operational resilience.
“At Mastercard, we are committed to working with the Central Bank of Syria and key ecosystem stakeholders to support the modernisation of the country’s payment infrastructure and broaden access to secure digital payments. The first transaction represents a landmark moment in that journey. Together with QNB Syria, we are helping advance payment acceptance across the market,” said Adam Jones, Division President for West Arabia at Mastercard.
QNB Syria will adopt a phased approach to the rollout, progressively onboarding eligible merchants and expanding payment acceptance capabilities, subject to applicable regulatory requirements and approvals.
