NEW YORK - OLB Group, Inc. (NASDAQ:OLB), a diversified payments and Bitcoin mining company, has announced the national market launch of two prepaid phone service reseller brands aimed at the unbanked and budget-conscious consumers.
Black Wireless and Mango Mobile, compatible with AT&T (NYSE:T) and T-Mobile networks respectively, were initially introduced in a "soft launch" to test market demand and the signup process.
The expansion taps into the growing unbanked population, offering both eSIM and physical SIM options. eSIM technology enables customers to activate their phone service swiftly without a physical SIM card. Black Wireless, in particular, allows customers to operate up to 20 separate phone lines on a single eSIM-compatible device.
According to Ronny Yakov, CEO of OLB Group, the company's foray into the unbanked market has been successful, with over 20,000 retail and dealers, including bodegas and convenience stores, now offering these wireless plans. Yakov expressed confidence in the significant revenue potential as the company continues to introduce wireless plans and a payment card option to this demographic.
OLB Group's e-commerce platform currently serves over 10,200 merchants across all 50 states, and through its majority ownership of the Black 011 platform, it extends its reach to an additional network of 31,600 retailers and dealers. Moreover, the company's subsidiary DMint is involved in Bitcoin mining operations in Tennessee, utilizing renewable energy sources such as hydroelectric and solar power.
The company's press release also contains forward-looking statements regarding its operations and potential revenue from new operations. However, these statements are based on current expectations and assumptions and are subject to various risks, uncertainties, and other factors.
This news article is based on a press release statement from OLB Group, Inc.
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