|By||| Mar 13, 2013 | Investments & Acquisitions|
MOL AccessPortal Sdn. Bhd. (MOL), an e-payment service provider and subsidiary of MOL Global Pte. Ltd., today announced that they have made a majority investment in Turkey’s e-pin portal Game Sultan and mobile payment company, PaytoGo.
MOL, also known as “Money Online,” currently has a presence in 11 countries, including Turkey. The said investment in Game Sultan and PaytoGo will give MOL an edge over the country with over 74 million people in population. There are also plans to go into Europe, the Middle East and North Africa (MENA) regions in 2013.
Ganesh Kumar Bangah, Group CEO of 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.”
Game Sultan, established in 2006, offers in-game currencies for more than 100 online games from over 25 global publisher partners. Their e-wallet system, which uses the G-Cash virtual currency, can be purchased through different means, like kiosks, retail outlets, cybercafes, and through the web in Turkey.
PaytoGo, which was founded in 2011, provides a wide array of digital services like online games, digital goods, online shopping, m-parking and m-ticketing. It also has mobile phone operators like Turkcell, Avea and Vodafone on board as business partners for their mobile payment services.
Onur Ergüney, general manager of both Game Sultan and PaytoGo said, “MOL’s investment will bring about technological advancements to our business and strengthen the business and brands in the market. [...] Global publishers require a global solution, we give publishers the platform they require.”
Image Credit: PaytoGo