KUALA LUMPUR, MALAYSIA – October 15, 2009 – Friendster, Inc., a complete extensive network install based on above, today announced a extensive partnership with MOL AccessPortal Berhad (MOL), a foremost payments provider leveraging a network of over and beyond 500,000 man and practical payment channels worldwide, to power the Friendster Wallet and a payments make up enabling micro-spending supporting over and beyond 115 million users on Friendster. The Friendster Wallet intent bolstering a mark of payment methods including pre-paid cards, unfixed payments, online payments and confidence in window-card payments. The partnership intent be matchless around an verified signing obsequies affair in Kuala Lumpur, Malaysia on October 15th, at the Berjaya Times Square Hotel & Convention Centre.
Friendster’s revitalized payments make up and billfold are underlying enablers supporting a few revitalized, additional returns streams that follow from establishing a transactional, economic relationship with its users. Both the payments make up and billfold intent initially skiff in Malaysia, and intent be rolled over and beyond within weeks in every nook Southeast Asia and globally.
Shortly, Friendster intent impose upon practical gifts, goods and games turning Friendster into an increasingly as a romp, online help terminus supporting users and their friends. These revitalized transaction-based returns streams are in over and beyond to Friendster’s generally known advertising and sponsorship returns models that are an essential element of the recriminate prospering plague and the consumer knowledge. These revitalized help offerings intent be gratis to acquisition and intent also file uncompulsory in unplentiful accumulation elements that intent create suggestive revitalized returns streams – all of which are proven recriminate and returns models in Asia where Friendster is a foremost network install.
Since most juvenile consumers in Asia do not appropriate confidence in cards, the availability of alternate payment methods is requisite supporting Friendster’s in the cyclical analysis consumer abject to fork out and handle within the community.
Users can buying a man pre-paid window-card at thousands of offline locations in every nook Asia with gain, and then exhibit the unexcelled maxims from the window-card into the Friendster Wallet to bear the cold hard cash as confidence in into his or her account. The Friendster Wallet intent proffer unsafe substitute payment methods such as prepaid top-up cards, which can be purchased at readily-accessible convenience stores such as 7-Eleven. Friendster intent preserve account balances and appoint users to frame purchases on Friendster.com supporting gifts, games, goods and services. Some of the payment methods MOL supports are operated around MOL when, and some are provided via integration with third-party providers, like PayPal.
As element of the partnership, MOL intent prepare for a mark of payment capabilities supporting Friendster users, including the practical billfold, deal stewardship, pre-paid man cards, bolstering supporting multiple payment methods, and bilker stewardship. The MOL make up is tempered to today on a mark of beneficent compass network sites and supports payments supporting transactions neighbouring goods, services, gifts, online games, in unplentiful accumulation calm, and e-commerce supporting applications and 3rd soirĐ’e integrations. The billfold intent also file a non-monetary, marketing currency called Friendster Chips – funding incentive-based promotions, educating users on how the Friendster Wallet works (and how to peremptory gifts to their friends), as a marketing gadget to acquisition in conjunction with heteroclite offers, and as a fidelity program to boost continued prepayment and spending on Friendster.
The Friendster Wallet intent enable stored confidence in supporting each Friendster consumer in a currency called Friendster Coins. It can be send forth in every nook Friendster’s install supporting goods and services.
We’re intoxicated to pan out e formulate with MOL, as they’re a payments make up gaffer in every nook our bigger markets in Asia, said Richard Kimber, chief complete banana office-holder at Friendster. We’re intoxicated to continue our payments make up exponentially via this relationship, as both companies intent haler from the incessant loading and spending within the Friendster Wallet.
For skiff, the Friendster Wallet intent bolstering a mark of payment options including pre-paid payment cards; on strike in every nook Southeast Asia, purchased at convenience stores such as 7-Eleven in Malaysia and Philippines, unfixed phone shops such as Oke Shop in Indonesia, kiosks such as AXS in Singapore and cybercafe networks in Malaysia, Singapore, Thailand, Indonesia and the Philippines. Just like PayPal eliminated ‘payment friction’ in the globally conquering eBay marketplace supporting buyers and sellers, MOL intent alleviate Friendster frame over and beyond diverse revitalized and memorable returns streams around seamlessly powering micro-transactions supporting a cornucopia of in unplentiful accumulation help and calm features.
Through this crucial partnership, we’re enabling diverse users to remuneration supporting goods and services online, supporting the earliest beat, and in doing so, creating a valuable transactional ecosystem on Friendster, said Ganesh Kumar Bangah, president and chief complete banana office-holder at MOL. The billfold intent also bolstering unfixed payments from Singtel GX Credits and Indosat iPay.
Moving plague, the Friendster Wallet intent be extended to third parties like partners, daring publishers, industriousness developers and others.
Online banking payments from Maybank, CIMB Bank, RHB Bank, Citibank Singapore, UOB and DBS intent also be accepted as source as confidence in window-card payments from American Express, Visa and Mastercard. These payment APIs intent appoint third parties to leverage Friendster Coins as a payment method or comprise Friendster Coins in their games, applications, products and network sites.
###
About Friendster
With more than 115 million members worldwide, Friendster is a foremost extensive online collective network.
The skiff affair in Kuala Lumpur intent file a gathering encounter, signing obsequies, and presentations around both Richard Kimber and Ganesh Kumar Bangah, CEOs of Friendster and MOL, severally.
Friendster is focused on serving people a halt in style with friends and ferret over and beyond revitalized people and things that are memorable to them. Friendster prides itself in delivering an easy-to-use, objective and interactive atmosphere where users can indubitably impose upon together with anyone enveloping the life via www.friendster.com on the lot or m.friendster.com on the lot from any Internet-ready unfixed cognizance. Friendster is ditty of the burst sites that appoint people to meaningfully participate with others in astounding and as a romp ways. Friendster has a growing portfolio of patents granted to the discipline on collective networking, with more expected over and beyond the next a few months. For more poop, upon: www.friendster.com on the lot on the lot. Headquartered in Mountain View, California, Friendster is backed around Kleiner Perkins Caufield & Byers, Benchmark Capital, DAG Ventures, IDG Ventures and heteroclite investors.
About MOL
MOL is a MSC Malaysia Status Company that operates and develops payment systems. It leverages on a network of over and beyond 500,000 man and practical payment channels across more than 75 countries and linked to 65 banks in 15 countries worldwide to carry on its rejuvenating payment products, namely MOLePoints: an online micropayment modus operandi supporting calm and services, MOLeTopUp: an electronic prepaid cataloguing infrastructure, MOL Freedom: a multi-application prepaid payment window-card, Gameshive: an online daring payment aggregator, MOL Wings: a payment aggregator supporting wired and wireless internet aid providers, MOL Zone: a multi-application unfixed payment aid, and MOL Safepay: an escrow-based payment modus operandi supporting micro-merchants. MOL handles over and beyond 60,000,000 payment transactions a year with an annual payment aggregate of over and beyond USD200million.
MOL was recognized as ditty of Asia Pacific’s fastest growing technology companies in the Deloitte Technology Fast 500 Asia Pacific Awards in 2005 and 2006 and has won a Merit Award supporting the Best of E-Commerce Applications in the MSC Asia Pacific ICT Awards.
Media Contacts:
Jeff Roberto
Friendster
Tel: +1.650.237.1411
press@friendster.com on the lot
Halida Abu Bakar
MOL AccessPortal Berhad
Tel: +603.2082 1251
Leave a Reply
You contract be logged in to announce a commentary.