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"Fresh from buying majority stakes in Turkish companies\u00A0PaytoGo\u00A0and\u00A0Game Sultan, Malaysia-based e-payment firm MOL Global\u00A0has continued to spend after acquiring payment distributor\u00A0AyoPay in Indonesia in an undisclosed deal, as Tech In Asia reports.\r\n\r\nAyoPay is already a MOL partner\u00A0in Indonesia, and it will continue to operate within its existing brand and structure. The company\u00A0distributes MOL's virtual currency for games -- MOLPoints\u00A0-- across\u00A0the country, making them available to consumers via more than 400,000 retail points, including Internet cafes and general retailers.\r\n\r\nThe deal for 20-employee strong AyoPay is said to have taken six months to complete. MOL founder\u00A0Ganesh Kumar Bangah told Tech In Asia that it &amp;quot;deepens our relationship and strengthens our manpower in Indonesia&amp;quot;, which, with a population of nearly-250 million people, is a key market for MOL and other Web-based services in the region.\r\n\r\nAs well as offering its online payment solutions,\u00A0MOL owns one-time Facebook rival Friendster, which pivoted into an Asia-focused games site last year.\r\n\r\nMOLPoints are used across Friendster, and other sites, to buy virtual goods and make other online transactions. In markets like Indonesia, where less than 1 million people are estimated to own credit cards and bank account usage is lower than the west, over-the-counter credit for Web services -- which is what AyoPay provides -- are crucial. They give MOL an outlet through which to win the custom of those that are unable to use regular online payment services.\r\n\r\nAyoPay has made its customers aware of the deal\u00A0and explained its previous bank accounts -- through which transfers for MOLPoints could be made -- are no longer valid. It is providing new details for payments.\r\n\r\n\r\n\r\n&amp;amp;nbsp;\r\n\r\nHeadline image via 401K / Flickr"^^<http://www.w3.org/2001/XMLSchema#string>
<http://thenextweb.com/asia/2013/03/20/asian-e-payment-firm-mol-continues-its-spending-spree-with-acquisition-of-ayopay-in-indonesia/>