Middle East’s homegrown digital marketplace, Noon.com has entered into a five-year partnership with the world’s leading digital payment provider, Visa, to boost support and security for small and medium-sized enterprises (SME) and customers across the region.
The partnership will strengthen a long-term relationship between noon and Visa, benefiting customers and businesses across Saudi Arabia, UAE and Egypt through faster payments and payouts, attractive discounts and loyalty-linked growth.
The enterprise-level agreement is the next stage in the strategic partnership between noon and Visa, which looks to provide small businesses with tailored support and the tools they need to grow.
As part of this partnership, SMEs using noon.com and noon payments will enjoy improved support across the Middle East including faster payouts, and co-marketing support to further drive digital payments, leading to higher customer conversions.
Co-branded Visa credit card options, such as the Mashreq noon VIP card, with incredible benefits directly relating to online shopping will help reduce cash dependency and increase loyalty. Customers will also benefit from Visa’s upcoming integration with noon pay, a one-stop-shop seamless payments platform.
Mosam Gadia SVP – Noon Payments
“Our partnership with Visa marks a significant milestone in driving eCommerce and digital payments innovation throughout the region. Supporting local businesses, no matter their size, is extremely important to us, and we’re proud to facilitate a partnership that strengthens support for local SMEs and customers across the region.”
Last year, Visa supported noon’s efforts to quickly pivot payment options from cash-on-delivery to cashless, offering a variety of ways for businesses to continue to connect with customers, safeguarding communities amidst the pandemic. The transition, protected by multi-layered security protocols, ensured the physical and financial safety of noon’s shoppers, marking a historic shift in the payments industry towards increased digital payments.
Mr. Shahebaz Khan, Visa’s General Manager for UAE, said, “We recognize that sustainable economic recovery depends on small businesses being able to ‘return to normal’ and grow. According to our 2021 Small Business Recovery study, the majority of SMBs we surveyed believe digital payments are important for their recovery, making it more crucial than ever that we expand their access to the digital economy.”
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