National Sports Services Selects OLB Group, Inc. to Provide Cloud-based Cashless and Contactless Omnicommerce Solutions for F...
September 24 2020 - 11:24AM
The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based
omnicommerce and payment acceptance solutions for small- and
mid-size merchants, has been selected to provide comprehensive
merchant services solutions to National Sports Services (NSS), an
operator of minor league baseball and hockey teams across the
United States. NSS plans to initially deploy OLB’s solutions at its
baseball properties in Lafayette, Indiana; Johnstown, Pennsylvania;
Spartanburg, South Carolina; and Wilmington, North Carolina. The
technology will be implemented in each home stadium the upcoming
season.
Headquartered in New York, OLB is one of the nation’s leading
providers of omnicommerce services for the fast growing small and
mid-size sector. OLB currently serves more than 8,500 merchants
across industries that include retail, restaurants, hospitality,
professional services, and other markets. At the heart of OLB’s
omnicommerce offering is its ShopFast platform, a cloud management
portal that enables merchants to seamlessly integrate multiple
business functions that occur on-site, online, and via mobile
devices. Through this technology, merchants can accept and fulfill
orders, process payments through both traditional and contactless
interfaces, launch customized data-driven marketing campaigns, and
initiate and manage loyalty programs. OLB’s technology is PCI DSS
secure and follows the guidelines of data privacy mandates.
Topeka-based NSS will use OLB’s technology to take advantage of
the profound economic and operational efficiencies associated with
omnicommerce. The company plans to initially deploy this technology
to sell and fulfill ticket orders electronically and at the box
office, manage food and beverage concessions, and sell team
merchandise at the stadium, and online. Each of NSS’s participating
teams can configure the solution to manage their specific operating
needs. The teams can also incorporate the platform’s analytics into
specific promotional and marketing campaigns over the course of the
season.
“Our partnership with OLB represents an important strategic
initiative for NSS that should have a profound effect on our
ability to lower costs, improve profitability, and, most
importantly, create a delightful experience for all our customers,”
said Bill Davidson, NSS’s chief executive officer. “OLB’s proven
management, point-of-sale, and data solutions will enable our teams
to engage with their fans through multiple touchpoints that are
safe, secure, and intuitive. Through our partnership with OLB, we
are confident that our teams will be able to build deeper
relationships with their respective fan bases, which will translate
into increased revenue and greater profits.”
According to Ronny Yakov, chief executive officer of OLB, the
decision of NSS to leverage digital commerce technology mirrors the
growing demand for these solutions among small- and mid-tier
merchants.
“Many legacy merchants recognize that digital commerce
technology can have a transformative impact on their ability to
generate revenue and improve profitability, but do not have the
budgets or technical skills in-house to take full advantage of
these capabilities,” explained Yakov. “Today, the advancements in
cloud computing have made these services much more affordable and
accessible to small- and mid-size merchants—especially those that
need safe and reliable options to conduct business in social
distance environments. As more businesses seek new strategies to
engage with customers, lower operating costs, and reignite their
sales efforts, we are confident that many will follow the lead of
NSS, and integrate these capabilities into their own business
processes.”
Investor Database for Future Press Releases and Industry
Updates
Interested investors and shareholders are invited to be added to
the corporate e-mail database for corporate press releases and
industry updates by sending an e-mail to
investorrelations@OLB.com
For more information about The OLB Group, please visit
www.olb.com and www.olb.com/investors-data
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 applications 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.
Contact:Glenn GoldbergParallel
Communications, Inc.jstafford@parallelpr.com+1 516-705-6116
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