UAE-based payments company NEOPAY has signed a definitive agreement to acquire a 65% controlling stake in noon payments, the digital payments arm of Noon Group.
The deal is aimed at expanding NEOPAY’s presence across the Middle East and North Africa, with a focus on the UAE, Saudi Arabia and Egypt. Financial terms were not disclosed.
The transaction would combine NEOPAY’s merchant acquiring and multi-channel payment infrastructure with noon payments’ digital payments platform, e-commerce gateway and merchant network. According to the announcement, the combined business would support payments across online channels and physical stores.
The companies also expect the combination to broaden merchant services, including faster onboarding, payment performance tools, fraud prevention, data analytics and settlement capabilities. The roadmap includes embedded financial services, alternative payment options, instalment plans and stronger cross-border payment and settlement capabilities.
noon payments already operates across several regional markets and supports local payment methods including Mada in Saudi Arabia, Meeza in Egypt and Jaywan in the UAE, alongside cards, wallets and other digital options.
The acquisition remains subject to customary regulatory and competition approvals. Once completed, it would be NEOPAY’s first major acquisition since Arcapita Group and Dgpays agreed in 2024 to acquire a majority stake in the company from Mashreq.
Source: Jawlah
