NEOPAY to Buy 65% of Noon Payments in Major MENA Payments Deal
The agreement would give NEOPAY control of noon’s payments arm and take it into Saudi Arabia and Egypt, creating a regional platform spanning online and in-store payments.
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NEOPAY has signed a definitive agreement to acquire a 65% controlling stake in noon payments, in a deal that would extend its reach well beyond its home market of the UAE. Completion remains subject to customary conditions, including regulatory and antitrust approvals.
The deal would combine NEOPAY’s acquiring infrastructure, omnichannel acceptance and merchant services with noon payments’ embedded payments platform, e-commerce gateway and merchant network across the UAE, Saudi Arabia and Egypt. NEOPAY says this would strengthen its position in the UAE and expand its digital commerce capabilities.
Merchants would get a more integrated offering covering online payment acceptance, in-store acquiring, faster settlements, data and analytics, and value-added financial services.
noon payments brings strong integrations with marketplace sellers and online merchants, along with high transaction density in some of the region’s fastest-growing digital commerce segments. NEOPAY says the deal would give it access to additional merchant relationships and payment flows, and speed up the rollout of alternative payment methods and installment options.
“This is an important milestone in NEOPAY’s journey,” said Vibhor Mundhada, CEO, NEOPAY. “Our ambition is now to take that capability across the region.” He said the acquisition would reinforce NEOPAY’s UAE leadership and expand its footprint into Saudi Arabia and Egypt.
Faraz Khalid, CEO, noon, said 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.”
NEOPAY has signed a definitive agreement to acquire a 65% controlling stake in noon payments, in a deal that would extend its reach well beyond its home market of the UAE. Completion remains subject to customary conditions, including regulatory and antitrust approvals.
The deal would combine NEOPAY’s acquiring infrastructure, omnichannel acceptance and merchant services with noon payments’ embedded payments platform, e-commerce gateway and merchant network across the UAE, Saudi Arabia and Egypt. NEOPAY says this would strengthen its position in the UAE and expand its digital commerce capabilities.
Merchants would get a more integrated offering covering online payment acceptance, in-store acquiring, faster settlements, data and analytics, and value-added financial services.
noon payments brings strong integrations with marketplace sellers and online merchants, along with high transaction density in some of the region’s fastest-growing digital commerce segments. NEOPAY says the deal would give it access to additional merchant relationships and payment flows, and speed up the rollout of alternative payment methods and installment options.
“This is an important milestone in NEOPAY’s journey,” said Vibhor Mundhada, CEO, NEOPAY. “Our ambition is now to take that capability across the region.” He said the acquisition would reinforce NEOPAY’s UAE leadership and expand its footprint into Saudi Arabia and Egypt.
Faraz Khalid, CEO, noon, said 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.”
