OLB Group (OLB) – an e-commerce merchant service firm from New York – has reportedly rolled out a point-of-sale (POS) solution, featuring simplification for crypto-enabled payments. 

Specifically, Bitcoin (BTC), Ethereum (ETH), USDC and DAI will reportedly be added as a viable means of payment for over 8,500 merchants, via the firm’s OmniSoft business management platform.

Customers who reportedly want to select crypto as the payment method in-store or via their mobile phones can use their crypto wallet to carry out the action. 

The processing for every payment will reportedly be finalized via SecurePay, a payment gateway that runs authentications for the transactions, conversion for the crypto into US dollars and grant approval for the final sale. 

The choice to initiate integration for crypto payments was partly due to the increase in contactless and online orders, during the ongoing global pandemic. With the OmniSoft platform already made a wide array of selections available to merchants to complete payments, crypto seems to be the next appropriate development. 

Ronny Yakov, OLB Group’s CEO, reportedly remarked that the payment gateway and point-of-sale architecture are “familiar territory for merchants”, which helped simplify the process of integrating crypto via such channels. 

“It’s very early in crypto-as-a-payment adoption, but we see increasing interest from merchants exploring this payment option as a means to meet their customers however and wherever they prefer,” Yakov reportedly remarked regarding his take on the adoption rate for crypto payment. 

“We anticipate that adoption will happen more quickly in higher-ticket transactions such as jewelry, B2B billing and real estate because the transaction fees for cryptocurrency processing are lower – often half of typical credit card fees.”