News

NEOM And Volocopter Partner To Create World’s First Bespoke Public eVTOL Mobility System

These first eVTOL aircraft will connect NEOM’s core urban development, called the Line, with other regional destinations.

Published

5 years ago

December 10, 2021

David Morelo

Volocopter

The concept of electric vertical take-off and landing (eVTOL) aircraft should be familiar to all fans of sci-fi literature, movies, and video games.

Because of their ability to take off and land vertically, such aircraft are suited for operation in densely populated urban areas that would easily trap even small airplanes. Since eVTOL aircraft rely on electric propulsion, they generate much less noise pollution compared with traditional helicopters.

Now, Volocopter, a German eVTOL aircraft manufacturer based in Bruchsal has established a joint venture (JV) company with NEOM, a planned smart city in the Tabuk Province of northwestern Saudi Arabia that aims to realize a daring vision of what the future could be.

neom partnership with volocopter

The goal of the new company is to design, implement, and operate the world’s first bespoke public vertical mobility system in NEOM. Once operational, the system will provide air taxi and logistics services and integrate with the rest of NEOM’s multi-modal and zero-emissions public mobility system.

“We are incredibly excited and proud to partner with Volocopter to make vertical mobility a reality here at NEOM. Volocopter is internationally recognized for leading innovation in the eVTOL industry and is a perfect match for our ambitious goals to create the first truly sustainable, shared, and seamlessly integrated mobility system in the world” said Florian Lennert, Head of Mobility, NEOM.

The JV has so far ordered 10 VoloCity passenger and 5 VoloDrone logistics aircraft from Volocopter, and plans are already in place to scale up activities from the beginning of 2022.

These first eVTOL aircraft will connect NEOM’s core urban development, called the Line, with other regional destinations. The Line is supposed to be a 170 km long linear city without conventional cars, and it will be home to over 1 million citizens when finished.

News

NEOPAY Wants To Follow Merchants Across Channels And Borders

A controlling 65% stake in noon payments would give NEOPAY access to marketplace sellers, online merchants and the payment flows they generate.

Published

1 day ago

October 5, 2026

Nour Nasir

neopay wants to follow merchants across channels and borders

It’s been a long time since checkouts were single defined places. A merchant might take payments at a physical register, on its own website and through an online marketplace, sometimes in more than one country. NEOPAY wants to follow those transactions wherever they happen.

The UAE payments company has entered into an agreement to acquire a 65% controlling stake in noon payments. NEOPAY already runs the acquiring infrastructure that lets merchants accept card payments, along with omnichannel acceptance and a merchant services platform. This new deal would add noon payments’ embedded payments platform, e-commerce gateway and merchant network across the UAE, Saudi Arabia and Egypt. That would considerably expand both NEOPAY’s digital commerce capabilities and its regional reach.

For merchants, the attraction is a single provider for online and in-store payments, plus faster settlements, data and analytics, and value-added financial services.

“Payments should be simple, reliable, and built for the markets they serve,” said Faraz Khalid, CEO of noon. His counterpart at NEOPAY, Vibhor Mundhada, added: “We have built a strong payments business in the UAE, and our ambition is now to take that capability across the region”. The acquisition, Mundhada added, would “expand our footprint into Saudi Arabia and Egypt” while reinforcing NEOPAY’s position at home.

Also Read: In Kuwait, Your Surgeon Might Be Operating From Another Country

NEOPAY is also keen to point out potential payment volume increases. The company says noon payments’ integrations with marketplace sellers and online merchants create high transaction density in some of the region’s fastest-growing digital commerce segments. It also believes control of the business would give it access to those merchant relationships and payment flows, and speed up the rollout of alternative payment methods and installment options.

The combined roadmap targets faster merchant onboarding, better payment performance, tighter fraud controls and embedded financial services. The deal could also strengthen cross-border payments and settlement along key regional commerce corridors.