Useful journalism to understand, manage and grow a business.
SearchThe agreement would give NEOPAY control of noon’s payments subsidiary and combine services for merchants in the United Arab Emirates, Saudi Arabia, and Egypt. The price has not been disclosed, and the transaction still requires approvals.
NEOPAY signed a definitive agreement to acquire 65% of noon payments, the payments unit affiliated with the noon e-commerce group. The stake would give NEOPAY control of that company, but the agreement does not involve acquiring the entire noon group. The financial terms have not been made public, and completion depends on the applicable regulatory and competition approvals.
The transaction aims to bring together complementary capabilities: NEOPAY contributes payment acquiring infrastructure, merchant services, and point-of-sale acceptance; noon payments contributes an e-commerce gateway and relationships with sellers and digital merchants. According to the companies, the combination would cover the United Arab Emirates, Saudi Arabia, and Egypt.
For businesses operating both physical stores and digital channels, the stated goal is to facilitate payment acceptance in both environments through a regional offering. NEOPAY also identifies faster merchant onboarding, improved payment management, stronger cross-border settlement, and enhanced anti-fraud capabilities as planned priorities. These are commercial objectives communicated by the parties, not results established by the announcement of the agreement.
The planned entry into Saudi Arabia and Egypt would take place through noon payments, which already operates in those markets, rather than solely through the launch of new services. In Egypt, the company had previously announced a relationship with First Abu Dhabi Bank Misr and said it operated as a payment service provider authorized by the Central Bank of Egypt. This describes the subsidiary’s existing operations; it does not, by itself, determine which approvals the change of control will require.
Vibhor Mundhada, NEOPAY’s chief executive officer, presented the agreement as part of the company’s regional expansion and highlighted the possibility of combining noon payments’ digital commerce expertise with NEOPAY’s infrastructure. Faraz Khalid, noon’s chief executive officer, said the partnership could help merchants and make payments easier for customers. These statements express the companies’ expectations, not a guarantee about the future scope or effects of the services.
Although a definitive agreement is in place, the transaction has not yet been completed. Its execution is conditional on the relevant regulatory and competition approvals. The companies have not disclosed the price or detailed in the announcement all the specific approvals that might be required in each jurisdiction.
Therefore, the scope confirmed so far is the agreement to acquire a controlling 65% stake in noon payments. The effective integration of services and any improvement in the offering for merchants will depend on completion and the implementation of the announced plans.
The texts reinstate measures on evictions, rent extensions and the purchase of a first home. Validation remains pending, and the prospects of support differ between the two decrees.
Read story
The organization argues that the proposal would leave investors with fewer safeguards than under the SEC and questions the initiative’s legal basis. The CFTC is still seeking comments: there is no final rule.
Read story
The expansion of Icelandic banks, financed with debt and deposits raised abroad, ended in a collapse that left hundreds of thousands of customers without immediate access to their savings. The Icesave dispute showed that deposit protection also depends on who backs it and on their ability to respond.
Read story