Arcapita Group Holdings, a global alternative investment firm, and Dgpays, a leading financial infrastructure technology provider in the EMEA region, have jointly acquired a majority stake in NEOPAY, one of the UAE’s fastest-growing digital payment solutions providers. The deal, valued at approximately $385 million, sees Mashreq Bank retaining a significant minority interest in NEOPAY. The transaction, which is pending regulatory approval, marks a significant milestone for NEOPAY as it seeks to expand its presence across the Middle East’s booming digital payments sector.
NEOPAY, originally launched as a strategic division within Mashreq, has experienced rapid growth in the UAE, serving a diverse client base across sectors such as retail, hospitality, and e-commerce. With the UAE’s card transaction market expected to grow at double-digit rates over the next five years, the partnership with Arcapita and Dgpays positions NEOPAY to capitalize on the region’s shift towards a cashless economy.
The Consortium aims to leverage Dgpays’ cutting-edge fintech solutions to drive NEOPAY’s growth further, while Arcapita’s backing will help the company expand into new markets and value-added services. This strategic alignment highlights the shared commitment of all parties to foster innovation and growth in the Middle East’s digital payments industry.
NEOPAY’s leadership, backed by Mashreq’s ongoing support, expressed confidence in accelerating the company’s expansion across the region, reinforcing its market leadership in digital payments.
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