NEW YORK–(COMMERCIAL THREAD) – The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions for small and midsize merchants, announced that its SecurePay payment gateway will take supports the transfer or sale of digital assets using non-fungible token (NFT) technology. NFT technology is based on the Ethereum platform which manages the generation and redemption of tokens, 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 means to buy and sell these properties without the risk of fraud associated with duplicating QR codes or barcodes, especially on a sale of Peer-to-Peer (P2P), ”said Ronny Yakov, general manager of the OLB group. “When an NFT is associated with a ticket or digital asset, the transfer of ownership is handled through a blockchain ledger, preventing anyone from selling the same ticket two or more times, which, unfortunately, this happens too often. The secure NFT process we have in place is intended to work seamlessly with SecurePay’s wide range of payment processing options, providing buyers and sellers with unparalleled flexibility in funding sources.
SecurePay provides built-in support for major digital wallets, including Apple Pay® and Google Pay®, cryptocurrency wallets, PayPal®, and traditional credit cards. NFT functions use smart contracts to ensure simple and transparent fund exchange and proper management of terms and conditions.
Yakov continued, “NFTs are often associated with art and collectible transactions, but the mechanism is ideal for selling or transferring almost any digital asset., regardless of the dollar value. The OLB Group is committed to providing solutions that 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 create a ShopFast or OmniSoft account at https://cardaccept.com/#contact.
For more information on The OLB Group, please visit www.olb.com or www.olb.com/investors-data.
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Safe Harbor Declaration
All statements of The OLB Group, Inc. contained in this press 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, without limitation, statements regarding the impact of COVID-19 on our operations and financial condition, our ability to implement our proprietary onboarding and CRM system for merchants and to deploy 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. Although the management of the Company has based all forward-looking statements contained in this document on its current expectations, the information on which those expectations were based may change. These forward-looking statements are based on a number of assumptions about future events and are subject to a number of risks, uncertainties and other factors, many of which are beyond our control, which could cause the results actual differ significantly from these statements. These risks, uncertainties and other factors include statements regarding revenues and expected transaction revenues to be generated by The OLB Group, Inc. For other factors that could cause our actual results to differ from those expected, see the information under the subheading “Risk Factors” in the Company’s most recent Forms 10-K and 10-Q, and their amendments, and in other public documents filed with the SEC since that date. The Company operates in a competitive and rapidly changing environment, and new risks may arise. Therefore, investors should not rely on forward-looking statements as a prediction of actual results. The Company disclaims any intention and assumes no obligation to update or revise any forward-looking statement.
About OLB Group, Inc.
The OLB Group, Inc. is a payment facilitator and business services provider that provides cloud-based merchant services for web and physical 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, reporting on sales and fundraising. With private label shopping site services designed to maintain the unique look or feel of the merchant’s website, for order fulfillment and customer service, OLB remains invisible to the user and promotes the brand of the merchant. trader with advanced technologies and solutions. For more information on solutions, services or to find a reseller, please visit www.olb.com. Information for investors is available at www.olb.com/investors-data.