OLB Group Simplifies Contactless Payments with Dynamic QR-Code Support

Customers can use mobile phones to scan a transaction-specific QR-code to complete a contactless PoS transaction

NEW YORK–(BUSINESS WIRE)–#ach—The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions for small and mid-size merchants, announced that merchants utilizing its OmniSoft™ cloud-based business management platform or SecurePay™ Payment Gateway can now offer customers an additional contactless payment option at the PoS using transaction-specific QR-codes. The feature is available to OLB merchants immediately.

The dynamic QR-code displayed at the PoS represents a unique payment record complete with all necessary transaction details. Merchants utilizing OLB’s QR-code services can select acceptable funding sources including Apple Pay® and Google Pay®, multiple cryptocurrency wallets, and other digital payment applications. All services are available through standard PoS terminals and platforms supported by OLB’s SecurePay Payment Gateway.

“Contactless transactions have become increasingly popular with consumers and merchants alike during the pandemic, and OLB is pleased to extend these seamless and convenient payment options at the PoS,” said Ronny Yakov, chief executive officer at OLB. “This solution provides the safe and secure experience that consumers demand, while giving merchants a cost-effective vehicle to satisfy a growing demand.

In addition to QR code support, OLB facilitates contactless Near Field Communication (NFC) transactions utilizing NFC-enabled cards and mobile devices at PoS terminals equipped with NFC readers. All transaction and payment details are encrypted and secured throughout the process.

“One of our primary goals is to deliver timely and relevant features that will enable merchants to satisfy customer preferences and maintain a competitive edge,” continued Yakov. “The QR code support is the perfect illustration of this philosophy. It demonstrates how OLB is always looking to leverage established and new technology to create functionality that will serve the needs of every participant in the ecommerce universe.”

Merchants interested in implementing omnicommerce services or adding QR-code support can set up an 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.

Contacts

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