Malaysian-made MOL launches in Australia, New Zealand
Malaysian-made Internet services firm MOL Global (MOL) has launched its services in Australia and New Zealand through an investment in local payment service provider Ocash Pty Ltd (ocash), which specialises in online game credit.
This strategic investment is the latest step to strengthen MOL’s positioning as the leading platform for online games and payment in the Asia Pacific region and will serve to further extend MOL’s reach for its partners, said MOL Global president Craig White.
“This is a significant step for MOL to continue to build and strengthen its business strategy across the Asia Pacific region,” said White. “According to PricewaterhouseCoopers’ research in 2011, the online game industry in Australia alone is expected to grow to A$1 billion in 2014. We see this as an opportunity that we and our partner merchants can tap into.”
“Our growth in the region with the establishment of MOL Australia and the strategic investment in ocash is a further step of our initiative to provide a premium payment eco-system that is highly efficient in terms of convenience, security and cost,” he said. “With the support of ocash’s experienced team, we are able to offer more valued-added services and products to our customers in Australia and New Zealand. At the same time, this alliance will also provide more business opportunities for our region’s game developers and publishers as they will be able to extend their reach via MOL to consumers outside the Asian region.”
“We identify ourselves in line with the vision of MOL and the synergy between both organisations will allow our businesses to reach new heights,” said ocash founder, Budi Handoko, who will join MOL Australia as chief executive officer. “At the same time, our growing player community will be able to gain new secured channels to purchase various popular digital products such as Facebook Credits, as well as be introduced to MOL’s huge portal of international and Asian games.”
In 2000, Malaysian Ganesh Kumar Bangah co-founded MOL AccessPortal Berhad, which was later rebranded as ‘Money Online’ (MOL), and is now a regional company with revenues of more than US$200 million with more than 600,000 physical and online payment channels. MOL partners with more than 150 online game publishers and social networks worldwide including Facebook, Zynga and Electronic Arts.