OLB Group to Enable Secure Digital Asset Transfer With NFT Solutions on Ethereum Platform
June 23 2021 - 8:30AM
Business Wire
Fintech company implementing non-fungible token (NFT)
capabilities to secure sales of electronic tickets and other
digital assets using blockchain tokens
The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based
omnicommerce and payment acceptance solutions for small and
mid-sized merchants, announced that its SecurePay payment gateway
will support the transfer or sale of digital assets utilizing
non-fungible token (NFT) technology. The NFT technology is built
upon the Ethereum platform which manages token generation and
redemption, association with an asset, and transfer of registered
ownership.
“The rapid adoption of digital ticketing over the past year has
accelerated the need for secure ways to buy and sell these
properties without the risk of fraud associated with the
duplication of QR codes or barcodes, particularly on a sale of
Peer-to-Peer (P2P) transaction,” said Ronny Yakov, chief executive
officer of OLB Group. “When an NFT is associated with a digital
ticket or asset, the transfer of ownership is assured through a
blockchain ledger, preventing anyone from selling the same ticket
twice or multiple times which,
unfortunately, happens far too often. The secure NFT process we
have implemented is intended to work seamlessly with the broad
range of payment processing options of SecurePay, giving buyers and
sellers unmatched flexibility in funding sources.”
SecurePay provides integrated support for major digital wallets
including Apple Pay® and Google Pay®, cryptocurrency wallets,
PayPal®, and traditional credit cards. NFT functions utilize smart
contracts to assure the simple and seamless exchange of funds and
appropriate management of terms and conditions of sale.
Yakov continued, “NFTs are often associated with art and
collectable transactions, but the mechanism is an excellent fit
with the sale or transfer of nearly any digital asset, regardless of the dollar value. OLB Group is
dedicated to providing solutions which make buying and selling
flexible and secure for all parties. NFTs are the latest addition
to the portfolio of services that we believe will be an effective
tool against digital asset fraud.”
Merchants interested in implementing omnicommerce services can
set up a ShopFast or OmniSoft account at
https://cardaccept.com/#contact.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210623005214/en/
The OLB Group - Investor Relations Rick Lutz
InvestorRelations@olb.com (212) 278-0900 EXT: 333
Glenn Goldberg – Media Relations Parallel Communications, Inc.
ggoldberg@parallelpr.com (516) 705-6116
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