Mashreq Bank Sells Majority Stake in NEOPAY to DgPays and Arcapita
Mashreq Bank has finalized the sale of a majority stake in NEOPAY, its UAE-based digital payments subsidiary, to financial infrastructure technology provider DgPays and global investment firm Arcapita Group Holdings. The transaction was announced on September 13, 2024.
Despite the sale, Mashreq will retain a minority stake in NEOPAY. Launched in 2022, NEOPAY offers a suite of digital payment solutions, including point-of-sale (POS) software, inventory management tools, card processing systems, merchant acquiring services, and payment gateway technology.
This strategic partnership aims to accelerate NEOPAY’s growth, enabling it to scale operations, expand into new markets, and enhance its offerings across the Middle East.
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