More than 8,500 merchants can now start accepting crypto payments as the OLB Group integrates cryptocurrency as a payment method.
As Bitcoin’s rallied to a new all-time high last month, crypto adoption also surged in January with the number of cryptocurrency users worldwide rising past 100 million users for the first time. Now, a New York-based e-commerce merchant service provider is even making it easier for people to pay using digital assets by enabling support for multiple currencies such as Bitcoin (BTC), Ethereum (ETH), USDC, and DAI on one of its platforms.
More than 8,500 merchants can now start accepting crypto payments thanks to the OLB Group. The New York-based payment facilitator and fintech firm now support cryptocurrency payments via its payment gateway SecurePay, according to Fintech Zoom.
SecurePay will be responsible for authenticating the crypto payment transaction before converting the amount into U.S. dollars and granting approval of the final sale. Merchants can accept crypto payments at the point-of-sale using OLB Group’s OmniSoft business management platform.
“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,” OLB said in a press release. “Our systems will be wallet agnostic and, integrating them with third-party software, customers will be able to seamlessly pay with Cryptocurrency wallets such as MetaMask TM, Coinbase Wallet TM, Crypto.com and Trust Wallets TM.”
The decision to include crypto payments into its platform is the next logical step for the company and partly driven by the growth of cashless and contactless payment options during the pandemic. “Providing all the latest technologies and tools to merchants is our top priority,” OLB CEO Ronny Yakov said. “It is imperative to adjust to these times as the world becomes further integrated with digital currencies.”
The company expects crypto payment transaction to rise along with the expected growth of the entire payments industry. “By 2027, the global payments industry is projected to be 8.94 Trillion USD and according to Statista there are 66 million users of Cryptocurrency wallets, according to Fortune Business Insights,” he added.
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