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OLB Group Acquires Mobile Solutions Provider DoubleBeam
Friday 29 May 2020

US-based financial technology company The OLB Group, Inc has acquired mobile solutions provider DoubleBeam in an asset purchase transaction from POSaBIT, Inc, the company said.

DoubleBeam provides mobile solutions which help merchants improve their customer experience and save money on their cost of payments.

By integrating with existing mobile applications and POS systems, DoubleBeam closes the loop between offers and promotions, customer purchasing behavior and preferences, and the most personalised, real-time communication method ever: the smartphone in their customers' hands.

The OLB Group is a FinTech company and a payment facilitator that, through its subsidiaries, focuses on a suite of products in the merchant services and payment facilitator verticals.

These services include electronic payment processing, cloud-based multi-channel commerce platform solutions for small to medium sized businesses and crowd funding services.

The company is focused on providing these integrated business solutions to merchants throughout the United States through three wholly-owned subsidiaries, eVance, Inc.,, Inc., and, Inc.

The company said it will introduce DoubleBeam's merchants in the food services and cafeteria markets to OLB's technologies.

OLB's omni-commerce technologies of Contactless, EMV, Apple Pay, Android Pay and Online Ordering will improve the customer experience significantly and expedite the checkout process, the company said.

In addition to improving marketing ROI, DoubleBeam saves merchants money on payments by offering mobile-based and contactless checkout at the cashier as an option, which is much cheaper than traditional credit and debit cards.

These savings get passed on to their customers, who benefit with targeted offers that make sense for them, available right as they are shopping.

DoubleBeam processes over 100m in sales transactions on an annual basis, captures customer data, and behavior shopping experience and habits and provides retailers the ability to make targeted in-app offers quickly and easily, all while running quietly in the background. Retailers maintain their brand and control all the features and functionality that add to their customers' shopping experience.

The OLB Group is a commerce service provider that delivers fully outsourced private label shopping solutions to highly trafficked websites and retail locations.
Date Published: 29/05/2020