NEOPAY Takes 65% Stake in noon payments to Build Regional Platform

UAE-based NEOPAY has signed a definitive agreement to purchase a 65% controlling stake in noon payments, though the companies did not reveal financial terms.

The transaction brings together NEOPAY's payment acquiring infrastructure and omnichannel acceptance platform with noon payments' embedded payments technology, e-commerce gateway, and merchant network. noon payments currently operates across the UAE, Saudi Arabia, and Egypt.

NEOPAY said the acquisition will enhance its digital commerce capabilities and strengthen its position in the United Arab Emirates. The deal also provides access to additional merchant relationships and payment flows.

The company plans to accelerate the rollout of regional payment options, including alternative payment methods and instalment products, once the transaction closes.

NEOPAY CEO Vibhor Mundhada described the move as a major milestone for the company's regional expansion.

This is an important milestone in NEOPAY's journey. We have built a strong payments business in the UAE, and our ambition now is to take that capability across the region.

Mundhada highlighted noon payments' digital platform and presence in key Middle Eastern e-commerce markets, adding that combining NEOPAY's acquiring and omnichannel capabilities with noon payments' digital commerce strength creates an opportunity to build a truly regional payments platform serving merchants seamlessly across channels and markets.

The acquisition will deepen NEOPAY's presence in Saudi Arabia and Egypt, reinforce its leadership in the UAE, and accelerate its ability to deliver what the company calls simple, intelligent, and locally relevant payment experiences for merchants across the MENA region.

The transaction remains subject to customary closing conditions, including applicable regulatory and antitrust approvals.