MOL buys majority stake in Turkey’s Game Sultan and PaytoGo

MOL AccessPortal, the e-payment subsidiary of Malaysia’s MOL Global — which bought Friendster in 2009 — has announced that it has acquired majority stakes in two of Turkey’s online payment companies: Game Sultan and PaytoGo.

Game Sultan offers in-game currencies for offer more than 100 online games from over 25 publishers. It also has an e-wallet system that uses a virtual currency called Gcash which can be purchased via a number of channels, including online, kiosks, retail outlets, and cybercafés in Turkey.

PaytoGo, meanwhile, is one of the top mobile payment options for local online gamers.

MOL’s investments give it a prominent position in Turkey — the 11th market that the company has entered into. Both PaytoGo and Game Sultan are eyeing a MENA region expansion this year, a market that MOL is also interested in.

The teams at PaytoGo and Game Sultan will continue to operate their businesses despite the majority investment.

These are not MOL’s first investments in the e-payment space. Last year, it bought a majority stake in Rixty, a San Francisco based startup that lets consumers buy digital goods without a credit card.

Comments