U.S.-based payment facilitator OLB Group announced plans to offer cryptocurrency payment options for its merchants through the use of blockchain technology on its Omnicommerce Platform and SecurePay Gateway. It has upgraded its SecurePay payment gateway system to support cryptocurrencies including Bitcoin, Ethereum, USDC and DAI across all merchant platforms.
The OLB Group is a FinTech company offering a suite of product solutions in the merchant services and payment facilitator verticals, including a cloud-based omni-channel commerce platform for SMBs, electronic payment processing, and crowd funding services for issuers and broker/dealers.
The company said the move to accept cryptocurrency payments will help enhance the funds available for every merchant that opts in, as these forms of payments settle instantly, providing small businesses with more flexibility and agility.
The company said all merchants utilizing the OLB SecurePay gateway service or the OmniSoft cloud-based business management platform will immediately have the option to accept these alternative contactless payment methods without any equipment changes.
The company added that its systems will be wallet agnostic and after integrating them with third-party software, customers will be able to seamlessly pay with cryptocurrency wallets such as MetaMask, Coinbase Wallet, Crypto.com and Trust Wallets.
OLB Group noted that SercurePay is compatible with mobile, tablet-based and cloud infrastructure and will be integrated into the merchants' current payment ecosystem to enable the acceptance of cryptocurrency payments.
Meanwhile, the company urged merchants interested in implementing omnicommerce services or accepting crypto within their existing payment infrastructure to set up an account.
"Providing all the latest technologies and tools to merchants is our top priority. It is imperative to adjust to these times as the world becomes further integrated with digital currencies," said Ronny Yakov, CEO of OLB.
The global payments industry is projected to be $8.94 trillion by 2027 and according to Statista there are 66 million users of cryptocurrency wallets, according to Fortune Business Insights.
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