Razer, the renowned gaming firm, has acquired a minority stake in Malaysia-based e-payment firm MOL AccessPortal. This investment is a part of a strategic partnership inked between the two companies.
Razer carried this transaction through its wholly-owned subsidiary ZV-Midas. The latter purchased a minority 19.9% interest in MOL from its shareholders, Hotel Resort Enterprise and MOL Investment. The disposal of shares made by the two shareholders has led to an implied valuation of $100 million for the company.
As per the terms of the agreement, MOL will now work as the master distributor of Razer’s virtual gaming currency, zGold.
MOL operates a payments platform that connects consumers with digital content providers, telecom service providers and online merchants by providing a vast network of distribution channels that accepts cash and online payment methods. Its virtual currency, MOLPoints, is currently the most widely-distributed in Southeast Asia. Post this partnership, it will be rebranded as zGold-MOLPoints to tap on Razer’s brand leadership in the gaming space. Preecha Praipattarakul, Group CEO, MOL Global, said,
We are excited to partner with Razer to exponentially expand our reach to millions of gamers globally. With MOL and Razer’s leadership in virtual currency and gaming markets, everyone will have better access to great content.
Together, both the entities envision to establish zGold globally as the “de facto virtual currency for gamers.” The zGold-MOLPoints will be sold at over 1 million online and retail stores in countries including Singapore, Malaysia, Thailand, Philippines, Vietnam, Indonesia, Australia and New Zealand.
Gamers can use this currency as a mode of payment for over 2,500 content titles from the MOL network. They can use them on gaming titles from distribution platforms including PlayStation Store SEA, Facebook Gameroom, and publishers such as Nexon, Wargaming. Min-Liang Tan, CEO and co-founder, Razer, in an official press statement, said,
This partnership holds true to our commitment to give value back to our gamers by offering a universe of digital content, secure and convenient payments and a unique gamer rewards program. Together with MOL, we are one step closer to our ultimate vision of a unified virtual currency for gamers.
The press statement also reveals that Razer and MOL will share technology to boost innovation in the FinTech sector. Their common vision is to assist businesses in commercializing digital content with virtual currencies as secure payment methods.