Damascus, September 13 (QNA) - 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.

The launch builds on a series of significant milestones in Mastercard and QNB Group's collaboration in Syria, the press release added. 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, "The launch of a locally issued Mastercard card through QNB Syria, enabled for international use, marks an important step in expanding access to digital banking services, strengthening the integration of the banking and monetary sectors, and empowering consumers and businesses to benefit more broadly from modern payment solutions. This milestone supports economic activity and contributes to the continued development of Syria's payments ecosystem."

In turn, Senior Executive Vice President of QNB Group Corporate and Institutional Banking and Chairman of QNB Syria, Khalid Ahmed Al Sada commented, "For the first time in more than 15 years, customers and businesses in Syria are gaining access to international payment capabilities through both the acceptance of internationally issued cards and the introduction of locally issued QNB Syria cards."

"This represents a significant step forward for the country's payments landscape and reflects QNB Group's commitment to leveraging its international network, local infrastructure and strategic partnerships to provide customers and businesses with greater choice, security and connectivity," added Al Sada.

For his part, Division President for West Arabia at Mastercard, Adam Jones said, "The launch of a locally issued Mastercard card through QNB Syria marks another important step in the evolution of Syria's payments ecosystem."

"Building on our collaboration with QNB Group, we are bringing Mastercard's technology, global network and payments expertise together to connect customers to secure digital payment experiences and the global economy," Jones added. (QNA)