Teaming up with financial institutions and back-office providers, this solution offers a cashless system and loyalty program to replace cash. OTI’s payments solution is supplying key components of the technology behind the new contactless card payment programs from MasterCard’s PayPass™ and Visa Contactless program. OTI payments solutions allows for payment either online or offline as an e-purse, loading funds through a refill system or by putting funds directly on the card. Alternately, credit card information can be stored directly on the chip. The information is protected by high level encryption approved by financial institutions.
OTI payments solutions include payment devices such as keyfob, credit card size contactless cards, vehicle tag, wristwatch and readers for quick upgrade of existing infrastructure to contactless operations, or for integrated point-of-sale solution.