NEOPAY to acquire controlling stake in noon payments in landmark regional expansion
The acquisition will unite two leading digital commerce platforms, creating an integrated payments solution spanning the UAE, Saudi Arabia and Egypt.
NEOPAY has announced a definitive agreement to acquire a 65% controlling stake in noon payments, a transformative development that positions the payments provider as a leading regional force across the Middle East and North Africa.
The transaction, which remains subject to customary regulatory and antitrust approvals, represents a strategic convergence of complementary capabilities. NEOPAY brings its established acquiring infrastructure, omnichannel acceptance capabilities and merchant services platform, whilst noon payments contributes its sophisticated embedded payments platform, comprehensive e-commerce gateway and extensive merchant network operational across the UAE, Saudi Arabia and Egypt.
As commerce continues its migration across physical and digital channels, merchants increasingly require payment partners capable of supporting their operations seamlessly across multiple markets and customer touchpoints. The combined entity will address this demand through an integrated proposition encompassing online payment acceptance, in-store acquiring capabilities, accelerated settlement processes, comprehensive data analytics, and complementary financial services.
Vibhor Mundhada, Chief Executive Officer of NEOPAY, commented: “This is an important milestone in NEOPAY’s journey. We have built a strong payments business in the UAE, and our ambition is now to take that capability across the region. noon payments has built an impressive digital payments platform with a strong presence in some of MENA’s most important e-commerce markets. By combining their strength in digital commerce with NEOPAY’s acquiring and omnichannel capabilities, we have the opportunity to create a truly regional payments platform that can serve merchants seamlessly across channels and markets. This acquisition will reinforce our leadership in the UAE, expand our footprint into Saudi Arabia and Egypt, and strengthen NEOPAY’s position as the payments provider of choice for businesses across MENA.”
Faraz Khalid, Chief Executive Officer of noon, added: “Payments should be simple, reliable, and built for the markets they serve. NEOPAY brings deep local expertise and strong infrastructure. Together, we can help merchants grow and make paying easier for millions of customers across the region.”
The combined strategic roadmap prioritises merchant accessibility across the region, with initiatives including streamlined merchant onboarding, enhanced payment performance, advanced fraud prevention capabilities and embedded financial services. The transaction will similarly strengthen cross-border payments and settlement infrastructure across key regional commerce corridors.
Source: WAM