Visa, a global leader in digital payments, announced they have tested the first live international transaction in Syria, marking an important milestone in supporting the country’s financial services sector.
Working with Fransabank Lebanon as the acquiring financial institution and Paymera, the test is the start of a historic step toward expanding digital payment capabilities in the market and providing international visitors with a familiar, secure, and convenient way to make payments.
“The Central Bank of Syria views the modernization of the national payments ecosystem and its greater integration with international payment systems as an important part of the broader modernization of Syria’s financial infrastructure. Today’s test paves the way for international card acceptance in Syria and represents a practical milestone in expanding payment options and facilitating transactions for international visitors. As we build on this milestone, maintaining strong compliance, risk management and operational controls will remain essential to safeguarding the integrity of payment and settlement operations and strengthening confidence in the payment’s ecosystem. We look forward to further expanding secure and efficient payment solutions that facilitate commerce and tourism and improve the payment experience in Syria.”
– H.E. Mohammed Safwat Raslan, Governor, Central Bank of Syria
“At Visa, our mission is to connect the world through the most innovative, reliable and secure payments network. Over the past several months, we have taken important steps to support the reintroduction of digital payments in Syria and greater participation in the global digital economy within applicable legal, regulatory and compliance requirements, working closely with partners and stakeholders to help lay the foundations for a more connected and digitally enabled economy. We are excited to have successfully tested live transactions today as we plan to enable international visitors to use their Visa cards while in Syria. This is an important milestone in the development of Syria’s payments ecosystem.”
– Leila Serhan, Senior Vice President and Group Country Manager for the North Africa, Levant and Pakistan (NALP) Region at Visa
