Cloud-based merchant services provider expects to build on larger merchant base in 2021
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.”
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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 .
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