NEOPAY, the digital payments arm of Mashreq, has signed a definitive agreement to acquire a 65% majority stake in noon Payments, the payment gateway subsidiary of regional e-commerce giant noon.com.
United Arab Emirates-based payments company NEOPAY has entered into a definitive agreement to acquire a 65% controlling stake in noon payments combining the infrastructure of both entities to form an integrated regional digital payments provider across the Middle East and North Africa (MENA).
The strategic transaction brings together NEOPAY’s point-of-sale terminal networks and merchant acquiring infrastructure with noon payments’ e-commerce payment gateway and embedded digital checkout platforms. While financial terms were not disclosed, completion of the acquisition remains subject to standard regulatory and antitrust approvals across participating jurisdictions.
The combined entity will create an end-to-end payment ecosystem serving physical storefronts, e-commerce platforms and digital marketplaces across the UAE, Saudi Arabia and Egypt.
By integrating noon payments’ merchant network and digital checkout features, NEOPAY gains direct access to high-volume e-commerce sectors and online seller relationships. Vibhor Mundhada, CEO of NEOPAY highlighted that merging NEOPAY’s merchant processing capacity with noon payments’ specialized e-commerce gateway allows the platform to capture rising transaction flows while introducing modern digital payment options, such as alternative payment methods and flexible installment plans.
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The acquisition aligns with broader regional initiatives aimed at reducing cash dependence and modernizing financial services across Saudi Arabia, Egypt and the UAE.
As online shopping and digital financial services accelerate throughout the MENA region, merchants increasingly require unified processing systems capable of managing both in-store card readers and online payment gateways. Executives from both companies noted that the merged entity will leverage shared technical capabilities to deliver real-time payment settlement reduce processing friction for enterprise and small-business merchants and support seamless cross-border trade throughout the region’s fastest-growing digital markets.
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