Visa tests first live payment as Syria updates financial system
DAMASCUS, Syria (North Press) – Global electronic payments company Visa on Thursday announced that it had tested its first live transaction in Syria, coinciding with Syrian President Ahmad al-Sharaa making his first card purchase.
The company said in a statement that the transaction was conducted in partnership with Fransabank Lebanon, which acted as the acquiring financial institution, and Syrian payment service provider Paymera.
Visa Senior Vice President for North Africa, the Levant and Pakistan Leila Serhan said the company had complied with the legal and regulatory requirements to connect Syria to the global digital economy.
Syrian Central Bank Governor Mohammad Safwat Raslan said updating the payments ecosystem and integrating it with international systems was a key pillar for developing financial infrastructure, while stressing the need for strict compliance and risk management.
The move comes as part of broader efforts to modernize Syria’s financial infrastructure, following a roadmap Visa announced in late 2025 to support Syria’s reintegration into the global digital economy, according to the company.
Fransabank Group CEO Nadim Moujaes and Paymera CEO Michel Katouh welcomed the development, describing it as a step toward reconnecting Syria to international payment networks under a framework of strict governance.
Access to global payment networks would allow Syria’s banking sector to gradually integrate into the international payments system, enabling international financial transactions, money transfers and imports.
Card issuance will remain subject to procedures set by the Central Bank of Syria and the country’s developing operational infrastructure.