News
Tarabut Opens Riyadh HQ To Drive Saudi Open Banking
MENA’s leading regulated financial platform has opened a regional headquarters to support Saudi Arabia’s open banking rollout in line with Vision 2030.
Tarabut, a leading regulated financial technology platform in Saudi Arabia, the UAE and Bahrain, has opened its regional headquarters in Riyadh, underlining its commitment to the Kingdom’s financial transformation agenda.
The new base will anchor Saudi-focused product development and client delivery, cementing Tarabut’s role as the main infrastructure and intelligence layer of this burgeoning financial technology.
The inauguration drew senior figures from partners including SNB, SAB, Alinma, Bank Aljazira and GIB, alongside board members and Tarabut leadership. Their presence showed the company’s close work with local banks and its role in the fintech ecosystem.
“Saudi Arabia has shown that transformation is not a buzzword, it is a blueprint,” said Abdulla Almoayed, founder and CEO of Tarabut. “Establishing our headquarters in Riyadh is a long-term commitment to the Kingdom, and our pledge to build, to serve, and to grow alongside our regulator, partners, shareholders, and team.” He credited the Saudi Central Bank and Tarabut’s Saudi talent for supporting the rollout of the fintech transformation.
Also Read: A Guide To Digital Payment Methods In The Middle East
With a permanent base in Riyadh, Tarabut will accelerate open banking and embedded finance use cases at a pivotal moment in the Kingdom’s rollout. The platform has already achieved full connectivity with all major Saudi banks and signed partnerships with SNB, Alinma and SAB. The company says its infrastructure will help financial institutions and fintechs tackle challenges in financing, credit decisioning and customer experience, while aligning with Vision 2030 goals.
The Riyadh HQ will also serve as a collaboration hub for regulators, banks and fintechs. By embedding itself locally, Tarabut aims to strengthen trust in the market and drive adoption at scale.
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.
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.
NEOPAY Wants To Follow Merchants Across Channels And Borders
RØDE’s Low-Profile Studio Arm Is Designed To Stay Out Of Shot
Microsoft Plans $10 Billion-Plus Gulf Expansion Despite Iran Conflict
In Kuwait, Your Surgeon Might Be Operating From Another Country
Qatar Folds 45 State Companies Into A Single Investment Platform
Trip.com Is Betting An AI Agent Will Book Your Next Vacation
Apple’s First Folding iPhone Arrives Late To A Shrinking Market
Egypt’s Mobile Wallets Are Booming, But Cash Still Has Power
Musk’s Boring Company Wants To Dig 150 KM Of Tunnel Under The UAE
OKX Bets Streaming Perks Can Take Crypto Mainstream Across MENA
-
News3 weeks agoTrip.com Is Betting An AI Agent Will Book Your Next Vacation
-
News3 weeks agoEgypt’s Mobile Wallets Are Booming, But Cash Still Has Power
-
News3 weeks agoMusk’s Boring Company Wants To Dig 150 KM Of Tunnel Under The UAE
-
News3 weeks agoOKX Bets Streaming Perks Can Take Crypto Mainstream Across MENA