OLB Projects Continued Strong Revenue Growth in 2021
Cloud-based
merchant services provider expects to build on larger merchant base
in 2020
New York,
NY, January 6th Jan, 2021 --
InvestorsHub NewsWire -- The
OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based
omnicommerce
and payment
acceptance solutions for small- and mid-sized merchants, expects to
extend its strong financial performance into 2021. According to
Ronny Yakov, CEO of OLB Group, the
increased appetite for cloud-based merchant services, coupled with
the company's robust solutions portfolio and reputation for
personal attention to merchants desiring a hand-on approach, should
continue the trends in broadening the merchant base and
accelerating sales in the new year.
Yakov
noted, "2020 was
an unprecedented year and tested our collective resilience on many
fronts. OLB overcame these challenges and executed on its mission
to provide eCommerce solutions and business services to small- and
mid-size merchants. I am especially proud of our onboarding and
support teams who worked tirelessly to
assist our merchants during the worst parts of the pandemic. Our
successes, combined with our greatly improved and comprehensive
solutions portfolio, positions the company for continued growth
throughout 2021."
Yakov
noted
several recent achievements that will
contribute to 2021 momentum:
•
Secured status as a Payment
Facilitator (PayFac) with two major banks
•
Expanded and enhanced
all applications
and upgraded its merchant boarding
process
•
Delivered fully cashless and
contactless purchase experiences to merchants and
consumers
•
Actively assisted
traditionally brick-and-mortar businesses transition to online
ordering and fulfillment
•
Achieved listing on NASDAQ in
August 2020
Yakov
expressed
confidence that OLB brands and solutions, including
its
eVance
merchant processing, GHM
benefits program, SecurePay payment gateway, and
ShopFast
omnicommerce
platform,
will continue to attract new
merchants in the coming
year.
"Our company is
in a strong position to serve the multiple business needs of our
customers," explained Yakov. "OLB has a solutions
portfolio that is broad, secure, and dependable, and we have an
experienced, talented team. We believe that 2021 will be a very
successful year for our entire organization."
For more
information about The OLB Group, please visit
www.olb.com and
www.olb.com/investors-data.
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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. Investor information is
available at
www.olb.com/investors-data.
Contact:
Glenn
Goldberg
Parallel
Communications, Inc.
ggoldberg@parallelpr.com
+1
516-705-6116
The OLB Group -
Investor Relations
Rick
Lutz
InvestorRelations@olb.com
(212) 278-0900
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