NEOPAY moves to take 65% of noon payments in regional payments tie-up

DUBAI — NEOPAY has signed a definitive agreement to acquire a 65% controlling stake in noon payments, the payments arm of e-commerce group noon, in a deal that merges two of the region's largest merchant payments businesses. Terms were not disclosed.

The transaction combines NEOPAY's acquiring and merchant services with noon payments' payment gateway and merchant network across the UAE, Saudi Arabia and Egypt. It is subject to regulatory and antitrust approvals and has not yet closed.

NEOPAY was founded by Mashreq and has been majority owned by Arcapita and Dgpays since January 2025. Vibhor Mundhada runs NEOPAY as CEO; Faraz Khalid leads noon. The combined group pairs bank-grade acquiring rails with one of the Gulf's biggest e-commerce customer funnels, giving it both sides of the merchant relationship in three markets at once.

Watch whether regulators in Saudi Arabia and Egypt clear the combination on schedule, and whether the merged entity moves to contest enterprise acquiring mandates against Network International and other incumbent processors.

noon payments announced the agreement; Zawya carried the statement.