[Announcement] MOL AccessPortal Acquires Rixty

Kuala Lumpur, 23 October 2012 – MOL AccessPortal Sdn. Bhd. (MOL), acquired Rixty Inc., an alternative payment platform provider based in Silicon Valley. MOL is the first ever Asian e-payment service provider to acquire a North American e-payments platform.

Rixty is virtually close to MOL’s business model that allows users to spend cash and coins for online games, virtual goods and digital content via kiosks and prepaid cards at retail stores. This platform allows consumers without credit cards or bank accounts to create spending accounts for online entertainment simply by taking their cash and coins to more than 75,000 locations across U.S. and 66,000 locations in Brazil.

“The idea of this whole acquisition is based on the concept of  One World,” emphasized MOL Global’s Chief Executive Officer, Ganesh Kumar Bangah. He believes that the acquisition allows MOL to expand into these two huge markets due to improvement of internet bandwith in a global scale and an increasing number of games that target the audience. MOL will now have an option to service game publishers globally and provide a one-stop solution for them to monetise their user base.

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

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The existing Rixty executive team and staff will continue extending their payment system into Americas from their headquarters in San Francisco, CA and Sao Paulo, Brazil.

During the Q&A session with the media, we asked, “Will there be a chance to see more foreign video games and Rixty’s products within our market through this acquisition?”

Ganesh gave Malaysians something to cheer about with the response that more international video game titles will be available in Malaysia in the near future as well as see more local games penetrating the US market.

Ted lamented that Rixty’s products such as Avatar Game Cards may come to local shores, however, exclusive services such as the Coinstar kiosk will not.

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