SecurePayTM Payment Gateway now speeds
processing and settlement with simple purchase-currency fee
structure and accounting
New York, March 4th, 2021 - InvestorsHub NewsWire
- The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce
and payment acceptance solutions for small and mid-size merchants,
announced its SecurePay payment gateway is now optimized to support
the processing of cryptocurrency purchases and settlement of
merchant funds. This speeds all aspects of the transaction process,
keeping crypto payments on par with credit and debit processes.
"We are at the leading edge of mainstream cryptocurrency use by
both purchasers and merchants, and are working diligently to ensure
fair and efficient processing throughout our solutions portfolio,"
said Ronny Yakov, Chief Executive Officer for OLB. "OLB is drawing
on years of card and electronic transaction processing knowledge to
build and grow a cryptocurrency ecosystem that leverages inherent
blockchain security while providing a familiar, fast, and
accessible business model for merchants and consumers."
SecurePay currently supports multiple cryptocurrencies,
including Bitcoin, Ethereum, USDC, and DAI across all merchant
platforms. OLB systems are wallet agnostic and through integration
with third-party software, support cryptocurrency wallets such as
MetaMaskTM, Coinbase WalletTM, Crypto.com,
and Trust WalletsTM, as well as general purpose wallets
such as Apple Pay® and Google Pay® when they offer direct
cryptocurrency support.
Contributing to SecurePay's efficiency is the collection of any
transaction fees in the original currency, eliminating
delay-riddled multistep conversions and compounded rounding that
can skew final settlements.
Currency conversion is completed at the gateway through the
services of licensed currency exchange providers, enabling all
merchant settlement to be completed in U.S. dollars. Providing all
cryptocurrency operations at the SecurePay gateway also enables
merchants to accept cryptocurrency payments alongside traditional
card-based or digital wallet payments without any equipment
changes. In addition, fees for cryptocurrency processing are
typically lower than those collected from credit and debit card
transactions.
Merchants interested in implementing omnicommerce services or
accepting crypto within their existing payment infrastructure can
set up an account at https://cryptoaccept.com/
For more information about The OLB Group, please
visit www.olb.com or www.olb.com/investors-data .
Future OLB Press Releases and Updates
Interested investors or shareholders can be notified of future
Press Releases and Industry Updates by
e-mailing investorrelations@OLB.com .
Safe Harbor Statement
All statements from The OLB Group, Inc. in this news release
that are not based on historical fact are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and the provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements include, but are not limited to, statements concerning
the impact of COVID-19 on our operations and financial condition,
our ability to implement our proprietary merchant boarding and CRM
system and to roll out our Omni Commerce and SecurePay
applications, including payment methods, to our current merchants
and the integration of our secure payment gateway with our
crowdfunding platform. While the Company's management has based any
forward-looking statements contained herein on its current
expectations, the information on which such expectations were based
may change. These forward-looking statements rely on a number of
assumptions concerning future events and are subject to a number of
risks, uncertainties, and other factors, many of which are outside
of our control, that could cause actual results to materially
differ from such statements. Such risks, uncertainties, and other
factors include statements regarding the expected revenue and
income for operations to be generated by The OLB Group, Inc. For
other factors that may cause our actual results to differ from
those that are expected, see the information under the caption
"Risk Factors" in the Company's most recent Form 10-K and 10-Q
filings, and amendments thereto, as well as other public filings
with the SEC since such date. The Company operates in a rapidly
changing and competitive environment, and new risks may arise.
Accordingly, investors should not place any reliance on
forward-looking statements as a prediction of actual results. The
Company disclaims any intention to, and undertakes no obligation
to, update or revise any forward-looking statement.
About The OLB Group, Inc.
The OLB Group, Inc. is a payment facilitator and commerce
service provider that delivers cloud-based merchant services for
web-based and brick-and-mortar organizations. OLB provides a
seamless, end-to-end digital commerce solution that includes site
creation, hosting, transaction processing and payment gateway,
order fulfillment, customer service, outbound marketing, sales
reporting, and fundraising. With services from private label
shopping sites designed to maintain the unique look or feel of the
merchant website, to order fulfillment and customer service, OLB
remains invisible to the user and promotes the merchant's brand
with market-leading technology and solutions. For more information
about solutions, services, or to find a reseller, please
visit www.olb.com . Investor information is available
at www.olb.com/investors-data .
Contacts
The OLB Group - Investor Relations
Rick Lutz
InvestorRelations@olb.com
(212) 278-0900 EXT: 333
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