New York, NY, April 15, 2021 – The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based eCommerce and payment acceptance solutions for small- and mid-size merchants, announced EZ Sports Technologies of Evanston, Illinois has selected it to provide comprehensive merchant services solutions to three Class D minor league baseball teams operated by National Sports Services (NSS). The technology will be leveraged by the Lafayette (IN) Aviators, Johnstown (PA) Millrats, and The Spartanburgers, a team located in Spartanburg, South Carolina. OLB will implement the technology in each home stadium prior to the start of the teams’ respective seasons.
Headquartered in New York, OLB is one of the nation’s leading providers of digital commerce services for the burgeoning small- and mid-size sector. The company currently serves over 8,500 merchants across industries that include retail, restaurants, hospitality, professional services, and other sectors. At the heart of OLB’s digital commerce offering is its Omnifast platform, a cloud management portal that enables merchants to seamlessly integrate multiple business functions that occur on-site, online, and via mobile devices. Through this technology, merchants can accept and fulfill orders, process payment through both traditional and contactless interfaces, launch customized data-driven marketing campaigns, and initiate and manage loyalty programs. OLB’s technology is fully secure, and adheres to all data privacy mandates.
NSS will use OLB technology to take advantage of the profound economic and operational efficiencies associated with digital commerce. The three NSS teams will deploy these innovations to sell and fulfill ticket orders electronically and at the box office, manage food and beverage concessions, and sell team merchandise both at the stadium, and online. The participating teams can each configure the solution to manage their specific operating needs, and incorporate the platform’s data analytics into specific promotional and marketing campaigns over the course of the season.
“Adopting OLB’s solutions represents an important strategic initiative for NSS that will have a profound effect on our ability to lower costs, improve profitability, and, most importantly, create a delightful experience for all our customers,” said Bill Davidson, NSS’s chief executive officer. “OLB’s proven management, point-of-sale, and data solutions will enable our teams to engage with their fans through multiple touchpoints that are safe, secure, and intuitive. Through our partnership with OLB, we are confident that the teams will be able to build deeper relationships with their respective fan bases, which will translate into increased revenue and greater profits.”
According to Ronny Yakov, chief executive officer of OLB, NSS’s decision to leverage digital commerce technology mirrors the growing demand for these solutions among small- and mid-tier merchants.
“Many small- and medium-sized businesses have recognized that digital commerce technology can have a transformative impact on their ability to generate revenue and improve profitability, but did not have the budgets or technical skills to take full advantage of these capabilities,” explained Yakov. “Today, the advancements in cloud computing have made digital commerce solutions much more affordable and accessible to these merchants—especially those that need safe and reliable payment and fulfillment options. As more merchants seek new strategies to engage with customers, lower operating costs, and reignite their sales efforts, we are confident that other organizations will integrate digital commerce capabilities into their own business processes.”
For more information about The OLB Group, please visit www.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 PSLRA 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. 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. (NASDAQ: OLB) 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.
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