MOL Takes Majority Stake in Turkey’s Game Sultan and PaytoGo

For immediate release:

SAN FRANCISCO – 12 March 2013 | MOL AccessPortal Sdn. Bhd. (MOL), Asia’s leading e-payment service provider and a subsidiary of MOL Global Pte. Ltd., today announced that it has made a majority investment in Turkey’s E-pin market leader, Game Sultan and leading mobile payment company, PaytoGo.

The investment in Game Sultan and PaytoGo provides MOL with a leading position in Turkey and a recognized doorway to Europe, the Middle East and North Africa (MENA) regions. In late 2012, MOL expanded into US and Brazil markets with a strategic investment in Rixty, a leading cash-based alternative payment platform for online games, virtual goods and digital content. Including Turkey, MOL now has a presence in 11 countries and is well-positioned to provide a greater range of services to consumers. With today's news, both MOL’s and Rixty's game publishing partners will receive increased distribution in the Turkish market to  monetize players in the MENA region.

Ganesh Kumar Bangah, Group CEO, MOL Global, said, “Turkey is one of the fastest growing e-commerce markets in the world. We have observed the growing trend of game developers putting in more efforts to localize their products. In addition, Turkey is an attractive market for mobile payments with over 61 million mobile phone users and mobile phone ownership reaching a penetration level of 85 percent."

“The opportunities for growth in the Europe and MENA region are great and MOL is determined to harness this with Onur and his team at Game Sultan and PaytoGo,” added Ganesh.

Onur Ergüney, General Manager of Game Sultan and PaytoGo stated that, “MOL’s investment will bring about technological advancements to our business and strengthen the business and brands in the market. We will be able to truly scale our business and expand our current offerings. Global publishers require a global solution, we give publishers the platform they require.”

Established in 2006, Game Sultan offers in-game currencies for over 100 online games from more than 25 global publisher partners. Game Sultan operates an e-wallet system using a branded virtual currency, G-Cash, which can be purchased via a wide variety of channels including kiosks, retail outlets, cybercafés and online in Turkey. PaytoGo initiated its mobile payment services in 2011 and is recognized as one of the top alternative payment system providers in Turkey today. It is the preferred mobile payment option for local online gamers. With this investment, the existing Game Sultan and PaytoGo executive team and staff will continue to manage and grow the business.

To aid game publishers in launching their games in new global markets, Rixty, MOL and GameSultan will be moderating a panel discussion of experts in emerging market game publishing and monetization during Game Developers Conference (GDC) in San Francisco. Game developers can attend the session on March 28 at 11:30 a.m. (PST) in the Moscone West Hall, Room 3018. For more information, visit http://schedule2013.gdconf.com/session-id/824110 or contact bizdev@rixty.com.

About MOL AccessPortal Sdn Bhd (MOL)

MOL AccessPortal Sdn Bhd (MOL) is one of Asia’s leading payment service providers. MOL is an MSC Malaysia Status Company that operates and develops payment system. MOL handles over 60 million transactions with an annual payment volume of more than US$300 million. MOL leverages on a network of more than 680,000 physical payment collection points across more than 80 countries. It is also linked online to more than 88 banks in 10 countries worldwide. MOL is recognized as one of the Asia Pacific’s fastest growing technology companies in the Deloitte Technology Fast 500 Asia Pacific Awards 2011. MOL is headquartered in Malaysia with offices across Asia Pacific. For more information, visit www.mol.com

About MOL Global Pte Ltd (MOL Global)

MOL Global is one of Southeast Asia’s biggest internet companies and fully-owns both the payment service provider, MOL AccessPortal Sdn. Bhd. (MOL) and the social networking pioneer, Friendster Inc. (Friendster). Through its ownership of MOL and Friendster, MOL Global has one of the region’s largest end-to-end content, distribution and commerce networks. For more information on MOL Global, please visit us at www.molglobal.net

About Game Sultan

Since its establishment in 2006,Game Sultan has been the leading E-Pin distributor in the market with an estimated 70% share, providing in-game currency for over 110 games of its over 25 global publisher partners. Game Sultan has an e-wallet system using the central virtual currency G-Cash with a very strong brand awareness and loyalty among the gamers in the region due to the trustworthy relationship formed over the course of years. A wide variety of methods can be used to purchase ranging from online banking, credit cards and mobile payment to physical payment channels such as billing kiosks, retail channels and the internet café network in Turkey. For more information, please visit: www.gamesultan.com

About PaytoGo

PaytoGo initiated its mobile payment service in 2011 and is one of the top alternative payment system providers in Turkey.PaytoGo, a Mobile Payment brand which offers an alternative payment method by using mobile payment services to buy digital goods and services. PaytoGo is providing services in Online Games, Digital goods, Public applications, Online Shopping, Mass Transportation, m–parking and m–ticketting. The leading mobile phone operators Turkcell, Avea and Vodafone are the business partners of PaytoGo on mobile payment services. For more information, please visit: www.paytogo.com

About Rixty

Rixty is an alternative payment system that lets domestic and international users spend cash and coins for online games, virtual worlds and all types of digital content. Consumers can pay without a credit card and without exposing confidential information by converting cash to Rixty value at 140,000 stores in the US and Brazil or 500,000 locations worldwide. Online game and website publishers use Rixty to engage with and monetize a larger percentage of users. By providing cash-based consumers a safe and flexible way to pay online, Rixty helps these publishers increase sales, enable new business models and attract new customers. For information on how to add Rixty to your website, visit http://www.rixty.com/pubinfo or email bizdev(at)rixty(dot)com.

MOL is a trademark of MOL AccessPortal Sdn Bhd in Malaysia. All other product and company names herein may be trademarks of their respective owners.

Hi-res company’s logos and executive photos can be downloaded at: www.flickr.com/molpr


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