Mastercard has launched a digital payments gateway in Syria, aimed at developing the financial infrastructure, facilitating electronic transactions, and strengthening the market's connection to the global payments ecosystem.
The company explained, in a statement reported by Asharq Al-Awsat newspaper on Wednesday, that the gateway enables banks and companies to process payments through traditional stores and e-commerce platforms, via a unified technological framework that includes tools for payment management and fraud protection.
The gateway operates through the company's Merchant Cloud platform, which provides solutions for digital commerce, including digital tokenization and data analytics, and supports companies' expansion into international markets.Adam Jones, Mastercard's Regional President for West Asia, stated that reconnecting Syria to the international payments system represents a step toward supporting economic recovery.
Meanwhile, Gaurang Shah, Executive Vice President for Merchant Acceptance and Commerce Solutions, clarified that the gateway will help Syrian banks expand acceptance of digital payments and provide secure payment methods for businesses, including small and medium-sized enterprises.
Syria has now objectively a matter economy then Iran and arguably even much stronger economy then Iran in the future despite just coming out a 15 years war.
