Visa and Mastercard resume operations in Syria

The dual rollout by Visa and Mastercard follows decades of isolation that had effectively barred the country from modern payment infrastructure. While Washington dismantled broader sanctions in December 2024, the terrorism designation remained a significant legal hurdle for global banks. With that label officially removed, financial institutions are beginning to re-engage with the Syrian market.

Visa confirmed its initial test was conducted alongside Lebanon-based Fransabank and the state-owned firm Paymera. Simultaneously, Qatar’s QNB Group announced the completion of an end-to-end international transaction using Mastercard. These efforts are part of a phased rollout that will eventually allow hotels, restaurants, and government entities to accept foreign credit cards through local point-of-sale terminals. Foreign Minister Asaad al-Shibani previously described the removal of the terrorism designation as the final obstacle to restoring investment, a goal central to the government’s economic strategy following the ouster of Bashar al-Assad.