MOL AccessPortal Sdn Bhd (MOL), one of Asia's leading payment service providers, announced it has made a majority investment in Turkey's E-pin market leader, Game Sultan, and leading mobile payment company, PaytoGo.
In a statement yesterday, MOL, a subsidiary of MOL Global Pte Ltd, said the investments provided the group with a leading position in Turkey and a recognised doorway to Europe, the Middle East and North Africa (MENA) region.
The company said Game Sultan and PaytoGo currently have offices in Istanbul, Turkey, with plans to move into MENA this year.
"Including Turkey, MOL now has a presence in 11 countries and is well positioned to provide a greater range of services to consumers," it added.
MOL Global Group chief executive officer Ganesh Kumar Bangah 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," he said.
In addition, Ganesh said 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 per cent.
"The opportunities for growth in Europe and MENA are great and MOL is determined to harness this with the team at Game Sultan and PaytoGo," he added.
Meanwhile, Game Sultan and PaytoGo general manager Onur Erguney said MOL's investments would bring about technological advancements to its business and strengthen the business and brands in the market.
"We will be able to truly scale our business and expand our current offerings," he said.
"Global publishers require a global solution... we give publishers the platform they require," said Onur.
With this investment, the existing Game Sultan and PaytoGo executive team and staff will continue to manage and grow the business.
Game Sultan, established in 2006, offers in-game currencies for over 100 online games from more than 25 global publisher partners and 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 via online.
As for PaytoGo, it 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. Bernama