OLB Sees Strong Opportunities in the Hospitality Sector for Its DoubleBeam Payments Platform

Cloud-Based Platform Facilitates Online and Mobile Services That Help Cafeterias and Food Service Operators Overcome COVID Restrictions

New York, NY, December 3, 2020 – The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions for small- and mid-sized merchants, announced that its DoubleBeam cloud-based payment services platform has been optimized to enable hospitality providers to expand business opportunities and deliver safe customer service options in COVID-restricted environments.

DoubleBeam is a fully integrated component of OLB’s omnicommerce portfolio, delivering comprehensive marketing, ordering, payment, and fulfillment processes through intuitive software and hardware. Utilized by operators of every size, DoubleBeam leverages the cloud to provide frictionless customer service and simple integration with back office processes and kitchen operations.

“We’ve been working hard throughout the pandemic to ensure that DoubleBeam customers can easily transition from a traditional premise-centric business model to a cloud-based infrastructure that facilitates safe business practices, including online ordering and fulfillment, contactless payment, and flexible delivery options,” said Ronny Yakov, chief executive officer for OLB. “By processing millions of transactions each month, DoubleBeam is proving its value as a secure and reliable solution that helps hospitality providers and other businesses flourish in the most challenging situations. We expect this trend to continue as more organizations seek efficient options to maintain operations.”

DoubleBeam hardware and software can often be set up in less than 15 minutes. The platform’s features include seamless order entry and processing with a direct link to kitchen printing systems, templates for menu management, a website builder, marketing and loyalty programs, and a free mobile app. DoubleBeam online and mobile apps also allow customers to pay for orders before entering the establishment, store favorite orders and payment sources, and provides a pathway for advertising and loyalty promotions.

DoubleBeam, and the entire OLB omnicommerce solution set, offer merchants a broad array of seamless integrations with inventory, warehouse, and supply chain management, accounting, employee scheduling and time tracking, and other business platforms.

Merchants interested in implementing DoubleBeam services can set up an account at https://doublebeam.com/get-started/. Resellers interested in adding DoubleBeam to their portfolio should visit https://doublebeam.com/new-reseller.

For more information about The OLB Group, please visit www.olb.com and www.olb.com/investors-data.

Investor Database for Future Press Releases and Industry Updates

Interested investors and shareholders are invited to be added to the corporate email database for corporate press releases and industry updates by sending an email to 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 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.

Contact:

Glenn Goldberg
Parallel Communications, Inc.
ggoldberg@parallelpr.com
(5160 705-6116

The OLB Group – Investor Relations
Rick Lutz
InvestorRelations@olb.com
(212) 278-0900 EXT: 333

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