OLB Group Announces New Product, MOOLA Pay, a Mastercard Pre-Paid Card Providing Banking Services to the Unbanked and Underbanked Community

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MOOLA Pay Card to Launch in First Quarter, 2025, Developed to Meet the Unique Needs of the Underbanked and Unbanked

NEW YORK, NY / ACCESSWIRE / November 21, 2024 / The OLB Group, Inc., (NASDAQ:OLB), a diversified Fintech eCommerce merchant services provider and Bitcoin mining enterprise, announced today the introduction of MOOLA Pay through MOOLA Cloud moolacloud.com, an innovative and proprietary solution for the unbanked and under banked consumer sector serviced by bodegas and convenience stores in the region. With a scheduled market launch in the First Quarter of 2025, OLB Group will dramatically expand its merchant services offerings.

Ronny Yakov, CEO of OLB Group, said, "After an extensive development process, we are extremely excited to launch MOOLA Pay planned in the First Quarter, 2025. The new services and features are not only for mobile services and downloadable gift cards, but also for mobile Top-Up to a Point of Banking (POB) terminal."

Patrick Smith, VP Finance of OLB Group, added "With a distribution network of31,600 convenient stores and bodegas in the United States for MOOLA Pay, we look forward to a rapid rollout after launch."

Services for Bodega Customers include:

• Prepaid Mastercard

• Virtual and physical payment capability

• Virtual Wallet with multiple payment and loyalty capabilities by FDIC insured Bank

• Bill payments for services including utilities of over 30,000 utility and service companies nation-wide.

• Option for multiple cards issued for same account

• Cross Border payments paid through the card of family members

• Rewards, coupons and discount on mobile services, including pre-paid cell phone plans

• Enables cardholders to reload money from OLB's authorized locations

• Instant alerts on discounts and promotions

• Peer-to-Peer money transfers

• Remote deposit of paychecks

• Cash deposit to prepaid card

• Card enrollment Online - In store - on Mobile

• Tap & Pay anywhere with Virtual Wallet

Services include For Bodegas Owners

• Prepaid business cards for owners by MOOLA Pay

• Transfer funds from account to account and load cash to the MOOLA Pay card

• Point of Sale (POS) system syncs with the prepaid cards of the consumers

• POS includes inventory management

• Offering state-of-art kiosks in selected locations

About OLB Group, Inc.

The OLB Group, Inc. is a diversified Fintech eCommerce merchant services provider and Bitcoin mining enterprise. The Company's eCommerce platform delivers cloud-based merchant services for a comprehensive digital commerce solution to merchants in all 50 states. In addition, through its ownership of the MOOLA Cloud and Black 011 platform, OLB Group can provide its services to an additional network of 31,600 convenient stores and bodegas 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.