Business

NEOPAY grabs 65% of Noon payments to push into Egypt and Saudi Arabia

By Joan Ngulube · · 4 minutes read
NEOPAY grabs 65% of Noon payments to push into Egypt and Saudi Arabia The Africans Time © theafricanstime.com
NEOPAY grabs 65% of Noon payments to push into Egypt and Saudi Arabia © theafricanstime.com
NEOPAY, based in Dubai, is set to take a 65% stake in Noon payments. The deal aims to link online and in-store payments for merchants in Egypt, Saudi Arabia, and the UAE.

NEOPAY is making a big move. The Dubai company has agreed to buy 65% of Noon payments. This deal gives NEOPAY control and a direct path into Egypt and Saudi Arabia. The agreement was announced on 5 October 2026. NEOPAY plans to join its in-store payment network with Noon payments’ online gateway and merchant base.

Noon payments is not new to Egypt. The company already runs payment services there. This deal is about changing who controls the business, not launching something from scratch. Both sides have signed a binding agreement. But the deal still needs approval from regulators and competition authorities. The price is still under wraps. Only Noon payments is included, not the wider Noon e-commerce group. The Emirates News Agency says the deal will only close if all regulatory and antitrust rules are met. As of the announcement, the transaction was not yet final. Official reporting confirms NEOPAY will take a 65% stake and control Noon payments. The financial details remain private.

Prior to the acquisition agreement, NEOPAY and Noon payments had already collaborated on a pilot project in October 2025, launching Aani payments for merchants in the UAE.

Strategic integration across three markets

The plan is simple. NEOPAY and Noon payments want to give merchants one system for both online and in-store payments in the UAE, Saudi Arabia, and Egypt. They aim to make it easier for merchants to sign up, fight fraud, and settle payments across borders. These are goals for now, not results. NEOPAY CEO Vibhor Mundhada says the move will help the company grow in Saudi Arabia and Egypt. Noon CEO Faraz Khalid says payment systems must be "simple, reliable, and built for the markets they serve." Gulf News reports the integration will link NEOPAY’s payment network and omnichannel tools with Noon payments’ online platform and merchant network in all three countries.

In Egypt, Noon payments already has a license as a payment service provider. The Central Bank of Egypt gave its approval. Noon payments also teamed up with First Abu Dhabi Bank Misr in October 2025. This gives NEOPAY a real foothold in Egypt. It can use Noon payments’ local setup and partnerships instead of starting from zero.

The combined platform is expected to accelerate merchant onboarding, enhance payment processing efficiency, strengthen anti-fraud capabilities, and expand embedded financial services, though these are currently stated as integration goals rather than achieved results.

Decypha

Ownership shifts and regional ambitions

NEOPAY has changed hands recently. In January 2025, Mashreq sold most of its stake to Arcapita and DgPays but kept a minority share. That deal valued NEOPAY at about $385 million. It set up the current push for growth. The new Noon payments deal builds on that plan. NEOPAY now has fresh financial backing and tech partners to go after more markets. DgPays and Arcapita now back NEOPAY. This puts them at the center of the region’s payments sector.

The Noon payments deal is not done yet. It still needs regulatory and competition sign-off. The companies have not said which Egyptian approvals are needed for the change in ownership. The real test will be whether they can join their systems and deliver smooth payments both online and in stores.

NEOPAY’s move to take control of Noon payments shows a clear strategy. The company wants to build a payments network across the UAE, Saudi Arabia, and Egypt. By buying into established platforms and using existing licenses, NEOPAY is making a serious play for the region. The final outcome depends on execution and regulatory approval. But the goal is clear. NEOPAY wants regional dominance through smart acquisitions, not risky bets.

Topics: Deals & M&A Market Entry Technology #Egypt #Central Bank of Egypt
Joan Ngulube Technology, society and future economies editor The Africans Time
Author

Joan Ngulube

Joan Ngulube is the Technology, Society & Future Economies Editor at The Africans Time. She covers technology, digital infrastructure, fintech, demographic change, climate and the energy transition, focusing on how these shifts affect people, businesses and economies across Africa.