MOL Global targets payment volume at RM3b by end-2013

KUALA LUMPUR: MOL Global Pte Ltd, the owner of payment services provider, MOL AccessPortal Sdn Bhd, expects to double its payment volume to RM3bil by end-2013 and RM6bil by 2014.

On an annualised basis, the company was expected to process approximately RM1.5bil worth of transactions this year.

Its chief executive officer, Ganesh Kumar Bangah, said the target to double the transactions was achievable as the company was in the midst of expanding its overseas presence to 12 countries by year-end, from the current eight.

"This year, MOL Global is looking to expand to Brazil, Turkey, the US and Vietnam. Next year, we will be expanding to another six countries," he told reporters after a joint-venture signing ceremony between MOL Global and Soft Space International here on Friday.

Also present was Tan Sri Vincent Tan Chee Yioun, founder of Berjaya Corp as well as the major shareholder of MOL.

MOLCube, the new entity created from the joint-venture, will focus on enabling small and medium-sized businesses to accept credit and debit card payments using mobile devices.

Ganesh said MOLCube represented another important milestone in growing MOL's product range which has grown from its MOLReloads infrastructure to MOLPoints micro payment system and later to MOL's e-commerce payment system.

"We will endeavour to further grow the MOLCube business just like our other businesses to become regional and global businesses quickly.

"All the countries that MOL is expanding will also serve as a base for the business expansion of MOLCube," he said.

He said the collaboration would further strengthen the companies' objectives to provide safe and secure mobile payment transactions for corporations and individuals to accept credit cards through mobile phones by swiping the card on the MOLCube card reader device. - Bernama

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