NEOPAY agrees to buy a 65% stake in noon payments, pushing into Saudi Arabia and Egypt
The deal pairs NEOPAY’s acquiring infrastructure with noon payments’ e-commerce gateway and merchant network, and is still subject to regulatory and antitrust approval.
NEOPAY said Monday it has entered into a definitive agreement to acquire a 65% controlling stake in noon payments, the payments arm of Gulf e-commerce company noon, in a deal intended to combine NEOPAY’s card-acquiring infrastructure with noon payments’ e-commerce gateway and existing merchant network.
According to the companies, the combination is framed around geographic expansion: pairing NEOPAY’s acquiring rails with noon payments’ gateway and merchant base is meant to extend NEOPAY’s footprint into Saudi Arabia and Egypt, two markets where noon payments already has an operating merchant network through its parent e-commerce business.
The transaction remains subject to customary closing conditions, including regulatory and antitrust approvals in the relevant jurisdictions, and the companies have not given a specific timeline for when those approvals are expected to clear or when the deal would close.
Neither company disclosed financial terms of the transaction. Deal value, the treatment of the remaining 35% stake, and whether noon payments will continue operating under its existing brand or be folded into NEOPAY’s platform were not addressed in Monday’s announcement.
The deal is the latest in a run of payments consolidation across the Middle East and North Africa, where regional e-commerce and payments platforms have been combining acquiring infrastructure with gateway and merchant-network assets rather than building each piece independently. As with similar deals, the practical significance for merchants in the two target markets will depend on integration details that have not yet been made public.