Mashreq Bank has completed the sale of a majority stake in NEOPAY, a UAE digital payments company.
The stake was acquired by DgPays, a financial infrastructure technology provider in the EMEA region, and Arcapita Group Holdings, a global alternative investment firm, as announced on September 13, 2024.
Mashreq retains a minority stake in NEOPAY.
Launched by Mashreq in 2022, NEOPAY provides a range of solutions, including point-of-sale (POS) software, inventory management tools, card processing systems, merchant acquiring services, and payment gateway technology.
The partnership is set to support NEOPAY in scaling operations, expanding into new markets, and enhancing its services across the Middle East.
Featured image credit: edited from freepik
