Visa announced a partnership with the Central Bank of Syria and financial authorities and institutions to implement a strategic roadmap designed to help Syria rapidly integrate into the modern global digital economy. Aligning with its mission to uplift everyone, everywhere, Visa will launch operations in Syria and support the creation of a future-ready payments ecosystem built on global standards through a phased digitization plan.
The immediate focus will be on working with licensed financial institutions to develop a robust and secure payments foundation. This includes issuing payment cards and enabling digital wallets using global standards like EMV chip and tokenization, ensuring they are secure and immediately ready for international interoperability.
For merchants, Visa will help enable acceptance through the Visa Acceptance Platform that provides the ability to deploy low-cost, open acceptance solutions like Tap to Phone and QR codes to rapidly build an inclusive and accessible network. The benefits of this extend to micro, small, and medium enterprises MSMEs that form the backbone of the local economy, empowering them to fully participate in the digital economy and contribute to job creation.
