Upon completion, the transaction will bring together NEOPAY’s scalable acquiring infrastructure, omnichannel acceptance capabilities and merchant services platform with noon payments’ embedded payments platform, e-commerce gateway and merchant network across the UAE, Saudi Arabia and Egypt. This will expand NEOPAY’s digital commerce capabilities and regional footprint, while strengthening its position in the UAE.
As commerce increasingly moves across physical and digital channels, merchants are looking for payment partners that can support them seamlessly across markets and customer journeys. By bringing together the strengths of the two businesses, NEOPAY will offer merchants a more integrated proposition spanning online payment acceptance, in-store acquiring, faster settlements, data and analytics, and value-added financial services.
Vibhor Mundhada, CEO of NEOPAY, said:
“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.”
noon payments has established strong integrations with marketplace sellers and online merchants, creating high transaction density in some of the region’s fastest-growing digital commerce segments. Upon completion, the Transaction will give NEOPAY access to additional merchant relationships and payment flows while accelerating the rollout of regional payment innovations, including alternative payment methods and installment options.
Faraz Khalid, CEO of noon, commented:
“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 roadmap will focus on making it easier for merchants to do business across the region, including faster merchant onboarding, improved payment performance, advanced fraud capabilities and embedded financial services. The Transaction will also create opportunities to strengthen cross-border payments and settlement capabilities across key regional commerce corridors.
