MOL Acquires AyoPay, Confirms Indonesia is Top Priority This Year
Willis Wee | On March 20, 2013 at 11:01 am
Malaysia’s leading payment service giant, MOL, has acquired Indonesia’s AyoPay for an undisclosed sum. AyoPay is a 20-man team business-to-business payment distributor who has been working hand-in-hand with MOL in Indonesia for the last two to three years ever since incorporation.
Specifically, AyoPay helps to distribute MOLPoints, MOL’s online micropayment system for games, to over 40,000 channels — like cybercafes and convenience retailers — in Indonesia. Globally, MOLPoints’s distribution spans over 600,000 channels across over 80 countries worldwide.
Ganesh Kumar Bangah, the founder of MOL, told me on the phone:
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. The acquisition deepens our relationship and strengthens our manpower in Indonesia.
The entire deal took about six months to complete.
With the acquisition set in stone, AyoPay will keep its brand name and continue to market MOL in Indonesia. Ganesh also confirmed that Indonesia is MOL’s top priority in 2013. While MOL has its eyes set on Indonesia, it is also constantly looking at other lucrative markets, such as Turkey and the Middle East, where it acquired Game Sultan and PaytoGo earlier this month.
(Also read: The Founding Story of MOL)