Mastercard announced that QNB Group has received a Mastercard license to expand its issuing and acquiring activities in Syria.
The license allows QNB to offer Mastercard payment solutions, accepted both locally and internationally, to individuals and businesses.
The development follows a memorandum of understanding signed between Mastercard and the Central Bank of Syria in September to support the modernisation of the country’s digital payments infrastructure, aiming to increase access to secure digital transactions.
The partnership marks a step in Mastercard and QNB’s efforts to improve digital banking, enhance financial inclusion, and advance technology adoption in the market.
“By empowering our partner banks, we are enabling millions of citizens to access modern financial services and laying the foundations for a robust, future-ready payments ecosystem. Our work supports the country’s vision for sustainable economic progress, delivered with full respect for regulatory and compliance standards,”
said Adam Jones, Division President, West Arabia, Mastercard.
Featured image credit: Edited by Fintech News Middle East, based on image by Zohaib Shakeel via Freepik
