Press release

SecurePay From OLB Group to Provide ACH Transaction Features for Businesses

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The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions for small- and mid-sized merchants, announced its SecurePay payment gateway now offers secure transfer of funds within hours with support for ACH (Automated Clearing House) services. Through this feature, businesses can leverage SecurePay to facilitate faster payments, minimize labor costs, mitigate human error, and streamline operations.

Key new features include:

  • On-demand check printing and remittance which eliminates the cost and labor of in-house check writing processes.
  • Digital check processing speeds the transfer and deposit of funds via the ACH network.
  • Mobile app-based customer payment services meets remit data capture requirements of many government organizations.
  • Digital payment solutions for business-to-business remittances eliminate paper checks, speeds fund availability, and automates accounting practices and documentation.

Ronny Yakov, chief executive officer of OLB, said, “ACH was traditionally utilized for bank-to-bank transfers, but today it is considered a vital tool to securely and quickly move funds that are essential for efficient business operations. Integrating this capability into a cloud-based service such as SecurePay provides businesses with tremendous flexibility and control of cashflow and operating costs. In addition, fees for ACH are typically less than the cost of card-based transactions and settlement is normally faster, giving businesses another compelling benefit.”

The SecurePay payment gateway is a central element of OLB’s comprehensive omnicommerce ecosystem that provides small- and medium-sized businesses with a wide range of cloud-based merchant services that meet their operational needs.

Merchants interested in implementing omnicommerce services that can facilitate ACH payments for receipt and remittance can set up an account at https://cardaccept.com/#contact.

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.