MOL partners with Facebook to become payment provider for Facebook Credits

Malaysia electronic payment specialist MOL
Global has announced a strategic partnership with Facebook that
will make it significantly easier and more convenient for millions
of people across Asia to purchase virtual goods in online games and
applications on Facebook.

Under the agreement, MOL Global’s wholly owned
subsidiary MOL AccessPortal will become a payment provider for
Facebook Credits. That will enable Facebook members to buy Credits
using MOLPoints on Facebook and on MOL’s website, MOL.Com.

In the coming months, Facebook users will be
able to obtain Facebook Credits using MOL points purchased through
MOL’s network of more than 500,000 outlets, which are mainly in
Malaysia, Singapore, Indonesia, Philippines, Thailand, India,
Australia and New Zealand. In addition to outlets such as 7-Eleven
stores and cybercafes, customers will be able to purchase Credits
through MOL’s network of online banks in these countries.

Facebook and MOL will also offer co-branded
gift cards at outlets in Malaysia and Singapore that can be
redeemed for Facebook Credits.

The partnership makes purchasing Facebook
Credits significantly more convenient in Asia, a region where
consumers rely heavily on offline prepaid cards rather than credit
cards to purchase digital goods and services.

“The relationship with Facebook demonstrates
MOL’s growing role as a leading payment provider for social
networking sites in Asia, especially in our core countries of
Malaysia, Singapore, Indonesia, Philippines, Thailand and India,”
said Ganesh Kumar Bangah, group chief executive officer for MOL
Global. “Over the last few quarters, we have seen a double-digit
increase in payment transactions and payment volume. This
partnership continues MOL’s momentum to build the largest
end-to-end content, distribution and commerce network in Asia.”

“Working with MOL means we can offer the
benefits of Facebook Credits to millions of people in Asia using a
payment system that is already widely used and trusted,” said
Vaughan Smith, director of business and corporate development at
Facebook. “We’re investing in the long-term future of Facebook
Credits and we view this agreement as a major opportunity to
broaden the availability of a simple, unified currency that can be
used in games and applications across Facebook.”

Facebook Credits enable users to buy and spend
virtual currency in more than 150 applications on Facebook from
many developers. Every month, more than 70 percent of Facebook
members engage with applications on Facebook Platform.