NEOPAY agrees to buy 65% of noon payments

UAE-based NEOPAY has signed an agreement to acquire a 65% controlling stake in noon payments, the payment business built around the regional e-commerce company noon. The deal pairs NEOPAY’s systems for helping merchants accept payments in stores with noon payments’ online checkout tools and merchant network across the UAE, Saudi Arabia, and Egypt. For NEOPAY, it is a faster route into Saudi Arabia and Egypt and a move toward offering businesses one provider for both digital and physical payments. noon will retain the remaining stake, while the deal still requires regulatory and competition approvals; neither company disclosed the price.