Company Expansion into Unbanked Sector to Facilitate Revenue Growth with eSIM Technology.
NEW YORK, NY / ACCESSWIRE / February 27, 2024 / OLB Group, Inc. (NASDAQ:OLB), a diversified payments company with a Bitcoin mining subsidiary, DMint http://www.dmint.com being prepared for a spin-off to shareholders, announced today the market launch of two wireless phone provider resellers to the unbanked sector. Black Wireless http://www.blackwireless.com, an AT&T-compatible prepaid phone service reseller, and Mango Mobile https://www.mymangomobile.com, a T-Mobile-compatible prepaid phone service, was "soft launched" to validate the market demand and the signup authentication process before this national market launch. The two cell phone service provider networks target the rapidly growing unbanked and budget-savvy consumer sector.
The subsidiary, Black Wireless, utilizes both an eSIM and physical SIM delivery to customers. An eSIM is a virtual SIM card that is downloaded directly into the customer's phone. The customer can download the eSIM immediately and be activated within minutes. With the newer eSIM-compatible phones, a customer can use twenty (20) separate phone lines on the same device.
Ronny Yakov, CEO of OLB Group, said, "Our entry into the unbanked market has been going well with over 20,000 retail and dealers including bodegas and convenience stores offering wireless plans to their customers. We are very confident that the Company will see significant revenue as we continue to roll out our wireless plans and a payment card option to this market."
About The OLB Group, Inc.
The OLB Group, Inc. is a diversified Fintech eCommerce merchant services provider and Bitcoin mining enterprise. The Company's e-commerce platform delivers cloud-based merchant services for a comprehensive digital commerce solution to over 10,200 merchants in all 50 states. In addition, through its majority ownership of the Black 011 platform, OLB Group is capable of providing its services to an additional network of 31,600 retailers and dealers to include bodegas and convenient stores in the United States. DMint, a wholly owned subsidiary of OLB Group, is engaged in the mining of Bitcoin in a facility in Tennessee utilizing sustainable hydroelectric and solar power. For more information about The OLB Group, please visit https://www.olb.com and financial information https://investors.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 and SecurePay applications, including payment methods, to our current merchants and the integration of our secure payment gateway with our crowdfunding platform, our ability to successfully launch a cryptocurrency mining operation and our ability to earn revenue from the new operations. 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.
CONTACT:
OLB Group, Investor Relations
Rick Lutz
IR@OLB.com
(212) 278-0900 Ext. 333
SOURCE: The OLB Group, Inc.
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