23 Oct '12, 4am

Friendster owner MOL makes majority-stake investment in cash-based payment platform Rixty

Friendster owner MOL makes majority-stake investment in cash-based payment platform Rixty October 23, 2012 by Terence LEE MOL AccessPortal , the e-payment subsidiary of Malaysia’s MOL Global, which bought Friendster in 2009, has made a majority-stake investment in Rixty , a San Francisco based startup that lets consumers buy digital goods without a credit card. The financial terms of the deal were undisclosed. Nonetheless, the founding team and existing investors will remain on board as significant shareholders, according to TechCrunch . Both companies offer up similar services, giving users a way to pay for gaming and digital content. Rixty has 75,000 payment points in the United States, 66,000 in Brazil, and a total of 500,000 worldwide. It has partnered up with 70 game publishers to integrate its payment service. MOL, meanwhile, has 360,000 physical payment channels in ...

Full article: http://sgentrepreneurs.com/2012/10/23/friendster-owner-mo...

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#MOL acquires majority investment in #SiliconValley based Rixty to expand coverage to North and South #America.

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