NEOPAY has entered into a definitive agreement to acquire a 65 per cent controlling stake in noon payments, the payment gateway of the regional e commerce group noon. The Dubai based merchant acquirer announced the agreement on 5 October 2026. The purchase price was not disclosed.
The transaction remains subject to regulatory and antitrust approval. The two businesses named the United Arab Emirates, Saudi Arabia and Egypt as the markets the combination is intended to serve. Vibhor Mundhada is chief executive of NEOPAY and Faraz Khalid is chief executive of noon.
What the deal buys is the half of the payments chain NEOPAY did not own. Its business has been built on in store acceptance, the terminals and the merchant relationships behind them. noon payments is an online gateway, built in the first instance to process for one of the region's largest e commerce platforms and subsequently opened to third party merchants. Putting them together produces a single acquirer that can present one contract, one settlement arrangement and one reconciliation to a merchant selling in both channels.
That is the consolidation logic that has driven every significant payments transaction in the Gulf over the past three years, and it is being driven by the merchants rather than by the acquirers. A retailer operating stores and a website has until recently needed separate providers for each, with separate pricing and separate data, and the operational cost of that split has become harder to justify as online share has risen.
The structure is worth noting as much as the strategy. Acquiring 65 per cent rather than the whole business leaves noon with a continuing economic interest in the gateway that processes its own volume, which both aligns the parties and avoids the loss of flow that a clean sale can trigger. It is the same shape as several recent regional deals in which a strategic seller retained a minority.
Neither company indicated when the transaction is expected to close.
