Embracing the Cashless Revolution
Embraced by banks, card associations and other payment industry stakeholders – mobile payments, NFC and contactless technologies are helping create a cashless, paperless world.
As new players enter the cashless payment game, oti is working to ensure that our banks have the technology and know-how to leverage innovations and retain their leadership in the financial arena.
oti’s portfolio of solutions for banks enables financial institutions to raise revenues, lower costs, and improve customer satisfaction by delivering a variety of cutting-edge cashless payment solutions direct to consumers.
WAVE – Retaining Financial Leadership
WAVE is the industry’s first audio jack plug-in NFC payment solution and the only to receive certification from MasterCard.
Based on oti’s patented technology, compact WAVE is device-agnostic, plugging into the audio jack on any smartphone, tablet or laptop, and allowing users to pay with their device while enjoying real-time redemption benefits from loyalty programs, and other incentives.
WAVE enables bank customers to use their mobile device for transactions, eliminating the need to carry credit cards and cash, and opening a whole new world of financial convenience and opportunity. Ideal for financial institutions, WAVE offers:
- NFC: WAVE turns smartphones, tablets or laptops into NFC secured payment devices. It connects to the device’s operating system via the audio jack, allowing for PIN code authentication and Over–the-Air (OTA) capabilities such as reloading cash electronically, remote personalization, firmware updates and downloading new applications.
- Public Key Infrastructure (PKI): WAVE allows PKI authentication via the add-on audio jack device, allowing Certificate Authorities (CA) and banks to ensure a customer’s secure access to accounts across multiple devices and channels.
- Java card operating system platform: WAVE runs on a Java card operating system over a Secure Element (SE) and is open to third-party development.
WAVE offers NFC capabilities and supports all type of smartphones (iOS and Andoid), including devices that are not NFC enabled. WAVE includes its own Secure Element, eliminating the need for involvement of third party organizations like Mobile Network Operators.