NEOPAY announced its agreement to acquire 65% of noon payments on 5 October 2026.
- NEOPAY has agreed to acquire a 65% controlling stake in noon payments.
- The transaction would expand its operations into Egypt and Saudi Arabia.
- The companies intend to combine online checkout with in-store payment services.
- The price is undisclosed, and completion requires regulatory and competition approvals.
The acquisition would bring together NEOPAY’s merchant-acquiring infrastructure and in-store payment services with noon payments’ online gateway and merchant network.
The businesses operate across the UAE, Saudi Arabia and Egypt, making the transaction a regional expansion with an existing African customer base.
The companies have signed a definitive agreement, but completion remains subject to regulatory and competition approvals. Financial terms have not been disclosed.
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For Egypt, the immediate development is a proposed change of control over a payments platform already operating in the country, rather than the launch of a new service from scratch.
According toNEOPAY’s announcement carried by Emirates News Agency on 5 October, the combined business will seek to connect online and in-store payment acceptance, settlement and merchant services across the three markets.
Buying access to online commerce
NEOPAY chief executive Vibhor Mundhada said the transaction would expand the company’s footprint into Saudi Arabia and Egypt.
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“Payments should be simple, reliable, and built for the markets they serve,” Noon chief executive Faraz Khalid said.
The agreement covers noon payments, rather than the entire Noon e-commerce group. Acquiring 65% would give NEOPAY control of the payments subsidiary while leaving a minority interest outside the transaction.
The commercial logic is to combine two parts of a merchant’s business: taking payments at a physical checkout and accepting them through websites or applications.
The companies also intend to improve merchant onboarding, fraud controls and cross-border settlement. These remain planned benefits of the combination, rather than independently demonstrated outcomes.
An established Egyptian business
In October 2025, the company announced a partnership with First Abu Dhabi Bank Misr to support digital payments and e-commerce. Its announcement said the arrangement followed Central Bank of Egypt approval for noon payments as a licensed payment service provider.
That existing banking relationship gives the acquisition a more concrete Egyptian connection than an overseas company simply declaring expansion ambitions.
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It also means NEOPAY would be entering through a business with local operations and relationships, although the latest announcement does not identify which Egyptian approvals the ownership transaction requires.
New owners pursue regional growth
NEOPAY itself underwent an ownership change before this agreement.
Mashreq completed the sale of a majority stake in the business to investment firm Arcapita and financial technology company DgPays in January 2025, retaining a significant minority holding.
The original transaction announcement put NEOPAY’s implied enterprise value at approximately $385 million.
The latest agreement advances the expansion strategy set out during that earlier transaction, using financial backing and technology partnerships to enter additional markets.
