UAE payments provider NEOPAY agreed to acquire a 65% controlling stake in noon payments. The companies signed a definitive agreement, while the transaction value was not disclosed. Completion remains subject to customary conditions, including regulatory and antitrust approvals.
The transaction would combine NEOPAY’s acquiring infrastructure and merchant-services platform with noon payments’ embedded-payments operation and e-commerce gateway. Noon payments serves merchants across the UAE, Saudi Arabia and Egypt. The agreement therefore gives NEOPAY a route to expand beyond its existing UAE base.
REGIONAL PAYMENT NETWORKS COMBINE
NEOPAY provides in-store and online acquiring, settlement and other merchant services. Noon payments brings digital checkout technology and connections to merchants using the wider noon commerce ecosystem.
The proposed combination is intended to offer a single set of services spanning online acceptance, physical acquiring, settlement, data and additional financial tools. It would also extend NEOPAY’s merchant reach into Saudi Arabia and Egypt while strengthening its position in the UAE.
APPROVALS SET THE NEXT MILESTONE
The definitive agreement establishes the ownership stake but does not complete the acquisition. Relevant regulators and competition authorities must clear the transaction before NEOPAY can take control of noon payments.
The next milestone will be satisfaction of the closing conditions and publication of any required regulatory decisions. Until completion, the two companies remain separate businesses and the regional integration described by the parties is prospective.