PayPal has joined NEO PAY in a strategic collaboration aimed at optimising and accelerating cross-border payments for businesses operating across the UAE.
As a result of this partnership, PayPal and NEO PAY intend to provide merchants across the region with the ability to accept PayPal payments and, in turn, bring a more secure and simplified option for consumers to pay online.
Additionally, as part of this collaboration, PayPal takes a step further in advancing digital commerce across the Middle East and Africa by offering businesses a safer and borderless international payments experience.
Going beyond borders made simpler
The integration of NEO PAY’s acquiring infrastructure with PayPal’s capabilities will see users benefit from optimal merchant onboarding, which will open new growth streams, especially for small and medium-sized enterprises (SMEs) looking to expand their operations beyond borders.
At the same time, the partnership will contribute to the continued growth of the UAE’s ecommerce sector, which, according to recent data, is expected to reach USD 21.18 billion by 2030. With this initiative, SMEs, which currently account for 94% of businesses in the region and fund more than half of its GDP, will receive access to an advanced digital payment platform. By providing PayPal’s checkout, merchants can scale customer confidence, boost conversion rates, and grow their global reach.
Furthermore, the move aims to further support UAE businesses while also solidifying the country’s position as a regional hub for digital commerce. By working together, PayPal and NEO Pay seek to accelerate financial inclusion, facilitate cross-border trade, and, in the end, positively impact the UAE’s ongoing digital transformation.
Expanding on this, Otto Williams, Senior Vice President, Regional Head and General Manager, Middle East and Africa, at PayPal, stated that this partnership combines trust with local advancement to unlock more opportunities while also progressing the company’s mission to allow access and support business growth at a global level.
