OLB Group Says It Is Positioning SecurePay to Boost Booming CBD Market

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Once frowned upon for its “natural” qualities and lack of credibility, scientific evidence quickly followed to prove skeptics wrong on the health benefits of cannabis. Now looked at as a viable treatment for pain relief, stress relief, and even the treatment of some cancers, it’s clear that cannabis is here to stay. 

Cannabidiol, more commonly known as CBD, is a compound found in cannabis that possesses various benefits and uses. It does not cause a high on its own because of the minimal amounts of THC present, but it still provides healing qualities in contrast to traditional medicines. Top CBD companies like cbdMD YCBD and Charlotte’s Web CWBHF make gummies, tinctures, capsules, and bath bombs. 

The CBD market has exploded over the past few years, and is expected to grow to $16 billion in just a few short years. While many people do purchase in-store CBD products, around 27% purchase them through online retailers. On average, 44% of CBD users spend $20 to $80 per month on products, and nearly 13% spend more than $80 a month. These shopping habits leave customers in this ever-growing market in need of financial transaction security, addressed with products like SecurePay from OLB Group OLB.

SecurePay is a mobile payment gateway that offers secure and efficient transfers of funds for merchants. It automatically connects a business’s web store to a server to process all e-commerce needs quickly and efficiently. Using enhanced security with encrypted data, SecurePay protects against credit card and purchasing fraud while also tailoring features to the merchant’s needs. Currently, SecurePay has 8,500 active merchants, with $23,500,000 in yearly transactions totaling $1.3 Billion in volume transactions. 

In addition, trained support specialists help SecurePay customers 24/7, 365 days a year with customer service issues so that merchants are not left unsupported and in the dark. It has been implemented in many areas, like retail stores, cafes and delis, restaurants, mobile payments, and third-party shopping carts, all with the sole purpose of providing smooth transactions.

OLB Group has signed a letter of intent (LOI) to acquire a portfolio of 1,200 CBD merchants that will use SecurePay, representing $13 million in additional revenue according to the company.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.