Mastercard has partnered with QNB Group, the largest financial institution in the Middle East and Africa, to expand issuing and acquiring activities in Syria.

The deal will enable QNB Group to provide Mastercard payment solutions to individuals and businesses, with acceptance both locally and internationally.

The initiative follows a memorandum of understanding signed in September between Mastercard and the Central Bank of Syria to support the modernisation of the country’s digital payments infrastructure. The aim is to promote access to secure, seamless digital transactions and accelerate financial inclusion.

The companies said the alliance will enhance the Syrian digital banking experience, using technology to bring more people and merchants into the formal financial system.

Adam Jones, president of Mastercard’s West Arabia division, said the move reflects Mastercard’s commitment to Syria as an early investor in a market undergoing rapid change. “By empowering our partner banks, we are enabling millions of citizens to access modern financial services and laying the foundation for a robust, future ready payment ecosystem,” he said.

Yousef Mahmoud Al‑Neama, group chief business officer at QNB Group, said the partnership aligns with the bank’s regional expansion strategy. “The Syrian market is seen as economically promising, given the development and modernisation of the banking sector in this sisterly country,” he added.

The partnership builds on Mastercard’s recent activity in the wider region. In 2024, Amazon Payment Services adopted Mastercard Gateway to accept a wide range of digital transactions, including non‑card payment options.

In June, Mastercard also partnered with payment solutions provider Enza to connect fintech companies to its network and boost financial inclusion across Africa. Founded in 2023, Enza offers cloud‑native payment solutions to fintechs and mobile network operators, including real‑time payments, digital wallets and open API infrastructure. Through the partnership, Enza began hosting consumer and merchant accounts while managing integration with Mastercard’s network, aiming to strengthen security and resilience.

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