Mintoak acquires Middle East-headquartered fintech ICC Loyalty
Mumbai-based fintech firm Mintoak has acquired the Dubai-headquartered ICC Loyalty to expand its presence across the Middle East, Africa, and Asia. The acquisition integrates loyalty and engagement services into Mintoak's existing payments platform, serving over 50 banks globally.
Why it matters
This consolidation reflects the growing trend of fintech companies expanding beyond simple payment processing into comprehensive customer engagement and data-driven loyalty ecosystems.
MUMBAI, India , Aug. 4, 2026 /PRNewswire/ -- Mintoak, the payments and engagement OS for acquirers, today announced the acquisition of ICC Loyalty, expanding its footprint across the Middle East, Africa, Eastern Europe and Asia while helping banks unlock new revenue opportunities beyond payments.
Headquartered in Dubai, UAE, ICC Loyalty serves over 30 leading banks and 11 million customers across 10+ countries, with clients including Emirates Islamic, Dubai Islamic Bank (DIB) and RAKBANK.
The acquisition expands Mintoak beyond merchant payments to include customer engagement, loyalty and rewards. The combined business generates over US$30 million in annual revenue with a profitability margin exceeding 30%.
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