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July 22, 2014 -Tuesday

 
  MOL Takes Majority Stake In Turkey's Game Sultan And PaytoGo

Wednesday 13/03/2013



Strategic investment to expand MOL’s reach into Europe, the Middle East and North Africa

KUALA LUMPUR, March 13 (Bernama) -- 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.

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, cybercafes and online in Turkey.

PaytoGo initiated its mobile payment services in 2011 and is recognised as one of the top alternative payment system providers in Turkey today. It is the preferred mobile payment option for local online gamers.

The investment in Game Sultan and PaytoGo provides MOL with a leading position in Turkey and a recognised doorway to Europe, the Middle East and North Africa (MENA) regions. Game Sultan and PaytoGo currently have offices in Istanbul, Turkey with plans to move into MENA in 2013. Including Turkey, MOL now has a presence in 11 countries and is well positioned to provide a greater range of services to consumers.

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 localise 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 Erguney, 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.”

With this investment, the existing Game Sultan and PaytoGo executive team and staff will continue to manage and grow the business.

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 cafe 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-ticketing. 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

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

SOURCE: MOL AccessPortal Sdn Bhd

FOR MORE INFORMATION CONTACT:
Turkey Contact:
Name : Onur Erguney
Email:erguney@gamesultan.com

Media Contact:
media@mol.com

Name : Ms. Shyla Sangaran
Tel : 03-20821318
Faks : 03-20821252
E-mail: shyla@mol.com

--BERNAMA

 
 
 

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