MOL Indonesia acquires AyoPay
By Digital News Asia March 20, 2013
- Combined assets to provide comprehensive payment solution and generate more monetization opportunities
- Existing AyoPay staff will join MOL Indonesia and continue to grow the business
PT. MOL AccessPortal (MOL Indonesia), a subsidiary of MOL Global Pte Ltd, has acquired AyoPay, a leading payment service provider in Indonesia that specializes in online game credits.
The strategic investment will expand MOL’s offerings in Indonesia, allowing partners and customers to achieve the full benefits of both services, MOL Global said in a statement.
"With an annual growth forecast of 33% for the next five years, the Indonesian online game industry holds immense untapped potential,” said Craig White (pic), president of global operations, MOL Global.
MOL declined to share how much it paid to acquire the company or whether AyoPay’s founders will retain a stake, but said that existing staff, which numbers 20, will join MOL Indonesia and continue to grow the business.
In an interview with Tech in Asia, MOL Global chief executive officer Ganesh Kumar Bangah said the entire deal took about six months to complete and will “deepen and strengthen” the company’s relationships and resources in Indonesia.
“We picked AyoPay because they are strong locally and have good networks. We worked with them for the last two to three years as one of our commercial partners and they are distributing our products quite well,” he added.
The investment represents another step towards MOL’s goal of creating a premium online payment ecosystem in the region. Through the combined assets, it will provide a comprehensive payment solution and generate more monetization opportunities for its global game publishers and social network partners, the company said.
“This acquisition reflects MOL’s continued commitment to invest in key markets across the world, especially Asia. By bringing AyoPay under the MOL organization, we are extending our value to consumers with increased content and payment options. At the same time, we are also providing a credible, localized platform for global developers to monetize their products in this unique Indonesian market,” White said.
Commenting on the acquisition, Patrick Setiawan, country manager for MOL Indonesia, said the company has been growing quickly over the last 12 months.
“We have seen a great increase in the number of Indonesian consumers who have taken notice of MOL as a multi-payment platform. AyoPay’s experience and expertise in the local market will be invaluable to us. We look forward to sharing and implementing best practices that are in place throughout the combined company. Ultimately, we are determined to better serve our consumers and partners with the expanded resources,” he said.
Established in November 2009, AyoPay is a payment service provider specializing in online games credits for the Indonesian market.
It is one of the largest distributors for branded online game credits from various game publishers like Gemscool, Lyto, and Megaxus. AyoPay is also the preferred payment option with a wide variety of payment channels like ATMs, cybercafés, online and mobile banking.