Asia's Leading Online Games Payment Platform, MOL and Silicon Valley Startup, Rixty In Strategic Tie-UpOctober 22, 2012
Online games growth is on a hot streak.
The sector is thriving partly due to the rising number of broadband users, particularly in emerging economies like Brazil, India, China, and Russia. In China alone, the MMOGs games is expected to generate $12 billion by 2016. And Brazilians spent 68% of their online time playing online and mobile games; chalked up 51% of total online spending on gaming.
Other than advancing broadband infrastructure, the growth of online games coincides with the increasing pervasiveness of digital payments. It is the increasing penetration of credit cards and wider distribution of alternative payment channels that have enabled, for example, 15 million users to spend $1.26 billion on virtual goods on Facebook in the first half of 2012!
Against the backdrop of a strong growth trajectory and relative economic resilience of the online games market, MOL AccessPortal (MOL) announces a strategic investment in a San Francisco-based alternative payment startup, Rixty to further expand its global reach to North and South America.
Lim Yung-Hui, Forbes, October 22, 2012