Syria cooperates with MasterCard to develop the digital payments system

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The Syrian Minister of Finance, Muhammad Yusser Barneyeh, and the Governor of the Central Bank of Syria, Muhammad Safwat Raslan, discussed with the CEO of MasterCard, Michael Maybach, and the company’s senior officials at its headquarters in New York City, the prospects for cooperation to develop the digital payments system and government financial services.

The Ministry of Finance explained that during the meeting, Bernieh reviewed the Ministry’s financial management development and digital transformation plan, and the development of the digital infrastructure for government financial services. Opportunities for benefiting from the advanced technologies and solutions provided by MasterCard were discussed, in a way that supports the Ministry’s vision.

The Ministry said that the meeting discussed enhancing the digital collection of government fees and taxes, digitizing government payments and purchases, and developing the system for paying salaries and wages in a way that enhances efficiency, accelerates completion, and reduces the use of “cash” on the one hand, and supports, on the other hand, the consolidation of financial integrity and the reduction of corruption and money crimes in government financial transactions, according to the Syrian News Agency “SANA.”

The Ministry added that MasterCard provides, in addition to the payment card services it has initiated with banks in Syria, services and solutions for modern digital payment technologies, including government payments.

Last May, MasterCard announced the completion of the necessary technical readiness to process international bank card transactions inside Syria, in a step that is the first of its kind in more than 15 years, and paves the way for reconnecting the Syrian market to the global payments network.