Meysan Partners Acted on UPayments' Milestone Investment from National Bank of Kuwait

Meysan Partners Acted on UPayments' Milestone Investment from National Bank of Kuwait

Leading Kuwaiti law firm Meysan Partners successfully steered online payment solutions provider UPayments towards a groundbreaking partnership with the National Bank of Kuwait (NBK). This strategic move, involving the sale of a 51 per cent stake in UPayments to NBK, marks a significant milestone in the booming Fintech landscape of the GCC region.

"We are proud to have played a pivotal role in facilitating this transformative transaction for UPayments," said Abdulwahab Sadeq, partner at Meysan Partners. "This deal further solidifies UPayments' position as a leading innovator in the Fintech space, offering cutting-edge electronic payment solutions that streamline business operations across the region."

The deal was not without its challenges. Objections raised by competitors with the Competition Protection Authority (CPA) threatened to stall the agreement. However, Meysan's adept regulatory team, led by Sadeq and Michel G. Ghanem alongside counsel Neyla Rahal, skilfully navigated these hurdles, securing CPA approval despite pending Central Bank of Kuwait clearance.

Founded in 2016, UPayments has carved a niche within the Fintech industry by offering user-friendly digital payment services tailored specifically for businesses and entrepreneurs. This strategic partnership with NBK will provide UPayments with the resources and access to further expand its reach and develop even more innovative solutions, shaping the future of the Fintech landscape in the MENA region.