NEOPAY has signed a definitive agreement to acquire a 65% controlling stake in noon payments, advancing its plans to build a regional payments platform. The transaction remains subject to customary conditions, including regulatory and antitrust approvals.
The deal will combine NEOPAY’s payment processing infrastructure, in-store acquiring and omnichannel services with noon payment’s e-commerce gateway, embedded payment technology and merchant network across the UAE, Saudi Arabia and Egypt.
The combined platform aims to provide merchants with integrated payment services, including online and in-store acceptance, faster settlements, data analytics and additional financial services. The companies also plan to improve merchant on-boarding, payment performance and fraud prevention while expanding cross-border payment and settlement capabilities.
NEOPAY CEO Vibhor Mundhada said the acquisition would strengthen the company’s UAE position and support expansion into Saudi Arabia and Egypt. Noon CEO Faraz Khalid highlighted the opportunity to simplify payments and help merchants grow across regional markets.
Once completed, the transaction is expected to broaden NEOPAY’s digital commerce capabilities and regional presence. By combining physical payment infrastructure with digital payment technology, the companies aim to serve businesses across multiple markets and customer channels more effectively.
The agreement marks a further step in the development of integrated payments infrastructure across the Middle East and North Africa.