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MOL and Facebook bring Facebook credits to retail stores
Posted on 8-Jul-2010 16:49. | Tags Filed under: News.

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

Facebook Credits enable users to buy and spend virtual currency in more than 150 applications on Facebook from many leading developers, eliminating the need of having to enter payment details separately for each application. Every month, more than 70 percent of Facebook members engage with applications on Facebook Platform.

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."

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