NEOPAY to Acquire 65% Stake in noon payments for MENA Expansion

UAE payments company NEOPAY has agreed to acquire a 65% controlling stake in noon payments, combining the two companies’ payments infrastructure and expanding NEOPAY’s presence into Saudi Arabia and Egypt.

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

The deal will bring together NEOPAY’s merchant acquiring infrastructure, omnichannel payment acceptance and merchant services with noon payments’ embedded payments platform, e-commerce gateway and merchant network across the UAE, Saudi Arabia and Egypt. For NEOPAY, the acquisition is part of its push to build a regional payments platform.

The company said the combination will strengthen its UAE position while expanding its merchant relationships and payment flows across two of MENA’s largest markets.

“We have built a strong payments business in the UAE, and our ambition is now to take that capability across the region,” said Vibhor Mundhada, CEO of NEOPAY. Once completed, the combined business will focus on areas including faster merchant onboarding, payment performance, fraud prevention, alternative payment methods and installment plans.

The companies also said the deal could strengthen cross-border payments and settlement capabilities across regional commerce corridors. For noon, the transaction brings its payments business closer to a dedicated regional payments infrastructure provider while keeping it within the wider noon ecosystem.

“Payments should be simple, reliable, and built for the markets they serve,” said Faraz Khalid, CEO of noon. NEOPAY was launched by Mashreq in 2022 as a standalone payments business.

In 2024, Arcapita and DgPays agreed to acquire a majority stake in the company in a deal valuing it at approximately $385 million, with Mashreq retaining a minority interest. The sale was completed in January 2025. NEOPAY had processed more than 400 million transactions in 2023 and served more than 10,000 merchants in the UAE.