Damascus: QNB Syria, a subsidiary of QNB Group, in collaboration with Mastercard, has announced the launch of a locally issued Mastercard card. The launch marks another important milestone in the continued development of the country's digital payments landscape and expands access to international capabilities for eligible QNB Syria customers, according to a press release by QNB Group.

According to Qatar News Agency, the launch builds on a series of significant milestones in Mastercard and QNB Group's collaboration in Syria. These include enabling international card acceptance capabilities in the market, reconnecting Syria's payments ecosystem to Mastercard's global network, and completing the country's first transaction using an internationally issued Mastercard card in more than 15 years. Processed through International point-of-sale infrastructure, the transaction demonstrated the readiness of the systems established to enable international card acceptance in the country.

It pointed out that this latest milestone extends Mastercard and QNB Group's collaboration in Syria from acceptance to issuance, with QNB Syria introducing locally issued Mastercard cards that enable eligible customers to make secure payments internationally. As part of the launch, the first transaction using the newly issued card was successfully processed at an international point-of-sale terminal, demonstrating the Bank's end-to-end card issuance and payment acceptance capabilities.

"Advancing a secure, inclusive, and interoperable electronic payments and transfers ecosystem is fundamental to strengthening Syria's banking infrastructure and enhancing its connectivity with global payment networks," said Governor of the Central Bank of Syria, Mohammed Safwat Raslan. He added that the launch is an important step in expanding access to digital banking services and empowering consumers and businesses to benefit from modern payment solutions.

Senior Executive Vice President of QNB Group Corporate and Institutional Banking and Chairman of QNB Syria, Khalid Ahmed Al Sada, commented on the significance of this development, noting it represents a significant step forward for the country's payments landscape. He emphasized QNB Group's commitment to leveraging its international network and strategic partnerships to provide customers and businesses with greater choice, security, and connectivity.

For his part, Division President for West Arabia at Mastercard, Adam Jones, highlighted the importance of the launch in the evolution of Syria's payments ecosystem. He expressed pride in bringing Mastercard's technology and global network to connect customers to secure digital payment experiences and the global economy.