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

MOL AccessPortal Sdn. Bhd. (MOL), an  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 company, Game Sultan and mobile payment company, PaytoGo.

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MOL said in a statement that 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.

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.”

In late 2012, MOL expanded into US and Brazil markets with a strategic investment in Rixty, a cash-based alternative payment platform for online games, virtual goods and digital content. Including Turkey, MOL now has a presence in 11 countries. 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.

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.

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