OLB Group Debuts ACH Transactions For BusinessesOLB Group Debuts ACH Transactions For Businesses

Cloud-based omnicommerce provider OLB has added ultra-fast payment acceptance through its SecurePay payment gateway, a press release says.

OLB, which works primarily with small to medium-sized businesses (SMBs), will now be able to help those businesses with facilitating quick payments, cutting labor costs and doing away with human error as much as possible.

Some of the new features will include on-demand check printing and remittance, digital check processing to help speed up fund transfers and deposits via ACH, mobile app-based customer payment services and digital payment solutions that eliminate the need for checks in B2B solutions.

The SecurePay gateway is central to OLB’s operations and helps make it a “comprehensive omnicommerce” system to aid SMBs, according to the release.

Ronny Yakov, chief executive officer of OLB, said the use of ACH with the cloud-based SecurePay would boost flexibility and help control cash and costs.

“ACH was traditionally utilized for bank-to-bank transfers, but today it is considered a vital tool to securely and quickly move funds that are essential for efficient business operations,” he said, according to the release. “Integrating this capability into a cloud-based service such as SecurePay provides businesses with tremendous flexibility and control of cashflow and operating costs. In addition, fees for ACH are typically less than the cost of card-based transactions and settlement is normally faster, giving businesses another compelling benefit.”

Yakov also told PYMNTS recently that the path to integration, an oft-confusing part of the process for young businesses, could be through QuickBooks. OLB recently announced payment gateway functionality with QuickBooks, connecting SecurePay to the service so users don’t have to leave QuickBooks to perform tasks like invoice generation and receiving payments.

The service could be a boon for smaller businesses struggling, as Yakov said the seamless invoice generation feature could reduce the time payments take and cut down on waste.



New forms of alternative credit and point-of-sale (POS) lending options like ‘buy now, pay later’ (BNPL) leverage the growing influence of payments choice on customer loyalty. Nearly 60 percent of consumers say such digital options now influence where and how they shop—especially touchless payments and robust, well-crafted ecommerce checkouts—so, merchants have a clear mandate: understand what has changed and adjust accordingly. Join PYMNTS CEO Karen Webster together with PayPal’s Greg Lisiewski, BigCommerce’s Mark Rosales, and Adore Me’s Camille Kress as they spotlight key findings from the new PYMNTS-PayPal study, “How We Shop” and map out faster, better pathways to a stronger recovery.

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