Photo - Ganesh Kumar Bangah, Group CEO, MOL Global.
Malaysia-based e-payment provider MOL AccessPortal (MOL), a subsidiary of MOL Global, has announced a majority investment in Turkey's E-pin provider Game Sultan and mobile payment company PaytoGo.
This move continues MOL's expansion into Europe, the Middle East and North Africa (MENA), according to MOL Global group chief executive officer Ganesh Kumar Bangah, who added that Turkey was also 'a recognised doorway' into MENA and would give MOL presence in 11 countries.
"Turkey is one of the fastest growing e-commerce markets in the world," said Bangah. "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 Game Sultan and PaytoGo," he said, adding that Game Sultan and PaytoGo currently has offices in Istanbul, Turkey and have plans to move into MENA in 2013.
Game Sultan and PaytoGo's general manager, Onur Ergüney, said: "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 and we will give publishers the platform they require."
Established in 2006, Game Sultan offers in-game currencies for more than 100 online games from more than 25 global publisher partners while PaytoGo started its mobile payment services in 2011.
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