Coin World News reports:
Global financial technology platform Adyen has announced a partnership with leading Middle Eastern e-commerce platform Noon, aimed at supporting the digital economy in the region. Since its establishment in 2017, Noon has developed into a digital ecosystem offering a range of products and services, serving the United Arab Emirates, Saudi Arabia, and Egypt.
Noon Empowers Payments with Adyen
In response to its rapid expansion, Noon has developed Noon Pay. Payment is one of the foundations of the modern world’s exchange medium, and it refers to one party transferring legal tender or equivalent currency to another in exchange for goods or services. The payment industry has become a fixed industry in modern commerce, despite significant changes in participants and modes of exchange over time. Specifically, the party making the payment is referred to as the payer, while the payee reflects the individual or entity receiving the payment. The most common payment is one where legal tender or equivalent currency is transferred from one party to another in exchange for goods or services. Payment has become a fixed industry in modern commerce, despite significant changes in participants and modes of exchange over time. Specifically, the party making the payment is referred to as the payer, while the payee reflects the individual or entity receiving the payment. To meet its payment requirements, Noon has developed an internal infrastructure. The partnership with Adyen will now enable Noon to enhance its payment solutions for regional merchants and customers.
Adyen’s unified platform offers a comprehensive range of services, including point-of-sale functionality, advanced 3D secure technology, and risk management. Risk management is one of the most commonly used terms by brokers, and it refers to the practice of identifying potential risks in advance. Most commonly, this also involves risk analysis and taking preventive measures to mitigate and prevent such risks. Given the potential consequences of facing unforeseen events or crises, these efforts are crucial for brokers and venues in the financial industry. Considering the increasingly stringent regulatory environment for almost every asset class, risk management is one of the most commonly used terms by brokers, referring to the practice of identifying potential risks in advance. Most commonly, this also involves risk analysis and taking preventive measures to mitigate and prevent such risks. Given the potential consequences of facing unforeseen events or crises, these efforts are crucial for brokers and venues in the financial industry. Given the increasingly stringent regulatory environment for almost every asset class, please read this term for configuration and consumer insights.
Sander Maertens, Adyen’s Managing Director for the Middle East, said, “By combining our global expertise with Noon’s deep understanding of the local market, we believe our partnership will drive significant growth and innovation in the UAE’s e-commerce sector.”
$ADYEN Partners with Noon
Adyen has partnered with leading Middle Eastern e-commerce platform Noon. This partnership aims to enhance Noon’s payment solutions for merchants and customers by integrating Adyen’s comprehensive suite of services. pic.twitter.com/HrPXYBYSUV — The Wolf of Harcourt Street (@wolfofharcourt) July 3, 2024
Accelerating E-commerce Innovation in the Region
This partnership aims to accelerate e-commerce innovation throughout the region, facilitate smoother payment processes, reduce fraud risks, and provide valuable customer data. Such enhancements are expected to optimize the shopping experience, enabling businesses to refine their strategies based on deeper consumer insights and promote more personalized market engagement.
Mosam Gadia, Senior Vice President of Noon Pay, said, “Noon has quickly established robust local payment capabilities, delivering the best payment experience to the Middle East market. We are now joining forces with Adyen to elevate our efforts to a new level. Adyen, as a digital payment company, possesses exceptional global capabilities, and we are excited to collaborate with them to expand the experience for our merchants and customers.”
