Rixty Announces Majority Investment by MOL Global

Rixty Announces Majority Investment by MOL Global

Rixty Announces Majority Investment by MOL Global

Transaction Provides Game Publishers Global Reach

SAN FRANCISCO – (Oct. 22, 2012) – Rixty, a leading cash-based alternative payment platform for online games, virtual goods and digital content in the US and Brazil, today announced that it has closed a majority-stake investment from MOL AccessPortal Sdn. Bhd., Asia’s leading e-payment service provider and a subsidiary of MOL Global Pte. Ltd.

With this collaboration, both Rixty and MOL’s game publishers will see a significant expansion in worldwide coverage with the addition of more localized payment options. Increased global coverage will enable more end-users to transition from players to payers, leading to improved sales conversion rates and further helping online merchants monetize the growing worldwide digital goods market, which generated $2.2 billion in 2011 and is expected to grow by 32% to $2.9 billion this year.

Founded in 2007, Rixty is an alternative payment platform that enables consumers without credit cards to convert their cash and coins into electronic currency via kiosks and prepaid cards at local, regional and national retail stores. Rixty has 75,000 cash payment locations across the United States and 66,000 payment locations throughout Brazil, which is Latin America’s largest online game market and is predominately served via cash transactions.

MOL operates Asia’s leading online game payment platform with a market presence in Malaysia, Singapore, Philippines, Thailand, Indonesia, India, Australia and New Zealand. The company has 360,000 physical payment channels across Asia Pacific and works with 200 game publishers globally. MOL processes an annualized payment volume of US$500 million.

“As a leading e-payment provider in Asia, MOL is the perfect partner to complement Rixty’s payment infrastructure across North and South America,” said Ted Sorom, CEO of Rixty, Inc. “Global publishers require a global solution. Together we give publishers the comprehensive worldwide payment platform they require,” Ted concluded.

MOL Global’s Group Chief Executive Officer, Ganesh Kumar Bangah, said the investment allows MOL to expand into these two huge markets while enabling MOL to tap into the best talent in Silicon Valley. “This investment takes us one step ahead to be global leaders in the US$19.2 billion worldwide virtual goods market. We look forward to working together with Ted and the Rixty team to capitalize on this tremendous opportunity,” Ganesh said.

With this investment, the existing Rixty executive team and staff will continue extending the Rixty payment system into the Americas from their headquarters in San Francisco, CA and their South American office in São Paulo, Brazil.


About Rixty
Rixty is an alternative payment system that lets domestic and international users spend cash and coins for online games, virtual worlds and all types of digital content. Consumers can pay without a credit card and without exposing confidential information by converting cash to Rixty value at 140,000 stores in the US and Brazil or nearly 500,000 locations worldwide. Online game and website publishers use Rixty to engage with and monetize a larger percentage of users. By providing cash-based consumers a safe and flexible way to pay online, Rixty helps these publishers increase sales, enable new business models and attract new customers. For information on how to add Rixty to your website, visit www.rixty.com/pubinfo or email bizdev@rixty.com.

About MOL AccessPortal Sdn. Bhd.

MOL AccessPortal Sdn Bhd (MOL) is one of Asia’s leading payment service providers. MOL handles over 60 million transactions per year, with an annual payment volume of more than US$500 million. MOL leverages on a network of more than 680,000 payment collection points across more than 80 countries, with links to over 88 banks worldwide via online banking. MOL was recognized as one of Asia Pacific’s fastest growing technology companies in the Deloitte Technology Fast 500 Asia Pacific Awards 2010. MOL is headquartered in Malaysia with offices across Asia Pacific. For more information, please visit us at www.mol.com.

About MOL Global Pte. Ltd.

MOL Global is one of Southeast Asia’s biggest internet companies and fully-owns both the payment service provider, MOL AccessPortal Sdn. Bhd. (MOL) and the social networking pioneer, Friendster Inc. (Friendster). Through its ownership of MOL and Friendster, MOL Global has one of the region’s largest end-to-end content, distribution and commerce networks. For more information on MOL Global, please visit us at www.molglobal.net.

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