KUALA LUMPUR, Malaysia, Jan. 26, 2015 (GLOBE NEWSWIRE) -- MOL Global, Inc. (Nasdaq:MOLG) ("MOL" or the "Company"), a leading e-payment enabler for online goods and services in emerging and developed markets, today announced that it has signed a partnership agreement with COSWAY (M), Sdn. Bhd ("COSWAY"), to expand the physical distribution network of the Company's MOLReloads and its e-commerce initiatives.
Under the terms of the agreement, MOL will install terminals in approximately 800 retail stores across Malaysia. COSWAY customers can use MOL terminals to purchase MOLReloads e-vouchers, which can be redeemed for pre-paid mobile airtime and digital content including MOLPoints. In addition, customers can also use the terminals to make cash payments for their online purchases, utilizing MOLPay's integrated payment solution. The installation of the terminals is expected to begin in the second quarter of 2015.
"We are delighted to cooperate with COSWAY, one of Malaysia's most recognized retail stores," stated Mr. Ganesh Kumar Bangah, Chief Executive Officer of MOL. "This partnership will allow us to expand our extensive physical distribution network of terminals and enable customers to more easily access payment terminals, laying the foundation for us to grow our broader e-commerce initiatives. Furthermore, this partnership will allow COSWAY to provide additional services to their high-end customers. By providing a reliable and convenient way for MOL customers to top-up their accounts, we continue to execute on our expansion strategy and further fortify our position as a leading e-payment enabler for online goods and services in emerging markets."
"We are excited to partner with Malaysia's leading e-payment processor, offering our customers the ability to expand their purchasing options via MOL's payment terminals," commented Mr. Al Chuah, Chief Executive Officer of COSWAY. "We understand that convenience is a large factor for our customers when deciding where to shop, and we believe that our partnership with MOL will allow us to continue providing the excellent, high-quality service our customers have become accustomed to over the years."
About MOL Global, Inc.
MOL Global, Inc. (Nasdaq:MOLG) is a leading e-payment enabler for online goods and services in emerging and developed markets. MOL operates a payments platform that connects consumers with digital content providers, telecommunications service providers and online merchants by providing a vast network of distribution channels that accepts cash and online payment methods. Its physical distribution network comprises more than 970,000 locations in 13 countries across 4 continents. The Company also has mobile payment channels, electronic distribution channels that accept major credit cards and online banking from more than 100 banks.
For more information, please visit ir.mol.com.
COSWAY began operations in December 1979 with the simple concept of distributing quality products at highly competitive prices through a unique network marketing system. Today, it is one of Asia's largest network marketing companies with a large network of retail stores.
In Malaysia, COSWAY has approximately 800 stores including 138 COSWAY Pharmacy stores located around the country. Launched in 2012, COSWAY Pharmacy is the latest iteration of the COSWAY retail concept, which offers professional services together with the widest selection of health products, organic foods and quality medications.
Safe Harbor Statement
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