Syria Partners with Visa to Launch Advanced Digital Payment System
The primary objective of the agreement is to construct a "secure payments infrastructure" in partnership with authorized financial institutions. The pact was officially signed during a meeting held at the Central Bank on Thursday, according to the report.
To guarantee operational readiness for global interoperability, the initiatives outlined in the agreement involve issuing payment cards and introducing digital wallets that comply with international standards.
Visa will also empower merchants to accept transactions via cost-effective solutions, including QR codes and "Tap to Phone."
The report highlighted that Visa has a presence in over 200 countries worldwide and is preparing to support a phased digital transformation agenda in Syria.
Syrian Central Bank Governor Abdulkader Husrieh stressed that the cooperation with Visa is essential for boosting transparency, expediting modernization, and providing a fresh start for the nation’s economy.
Leila Serhan, Senior Vice President of Visa for North Africa, the Levant, and Pakistan, stated that reliable and transparent payment systems are vital for economic recovery and attracting investment. She added that the initiative will allow Syria to move beyond "antiquated infrastructure" and adopt "cutting-edge, secure payment systems."
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