End-to-End Security Hardware and Software for Vendors and Merchants
Scottsdale, AZ and Rosh Pinna, Israel, April 11, 2017 — Apriva, a leading provider of omnichannel payment solutions and secure mobile communications, and On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC), cashless payment and fuel management solutions, announced today a partnership to bring a new end-to-end EMV solution to markets supporting unattended payments.
This pre-certified payment solution immediately supports magnetic stripe reader (MSR) transactions, and will soon be EMV certified on various processors through Apriva. As a semi-integrated solution, the OTI TRIO reader is securely interfaced with the Apriva gateway, which means a quick integration process for unattended systems. Security includes real-time data encryption, using the industry standard DUKPT (derived unique key per transaction) encryption method, with no cardholder or card data stored.
“Apriva is an excellent fit for our cashless payment solutions, as they offer a world-class gateway with multiple secure options,” said Larry Susman, vice president of global sales at OTI. “Our cost-effective hardware and software solution pairs strongly with Apriva’s secure payment capabilities, and we are pleased to bring an unattended solution to market built upon our combined technologies, experience and success.”
For over two decades, OTI has provided enterprises worldwide with cashless payment options including NFC products and solutions. OTI’s TRIO is a modular payment device that can support up to three cashless payment interfaces in one enclosure. The TRIO is specifically designed for installation in unattended environments such as kiosks and vending machines to enable cashless payment with magnetic payment cards, as well as mobile (Apple Pay®, Android PayTM, Samsung Pay®), EMV chip and contactless payment cards.
“Our partnership with OTI embodies Apriva’s commitment to unattended payment markets,” said Stacey Finley Tappin, senior vice president of sales and marketing at Apriva. “As unattended payment options expand in the years ahead, OTI’s success with hundreds of thousands of readers in the field worldwide aligns tightly with Apriva’s vision for supporting those payments—securely and flexibly, today and into the future.”
Apriva’s payment gateway offers state of the art security with end-to-end encryption, tokenization and EMV capabilities while connecting a variety of payment devices to over 30 processors accepting all major debit and credit cards, in addition to campus cards in both the U.S. and Canada. Apriva currently works with more than 1,100 merchant acquirers and independent sales organizations (ISOs) across North America, giving merchants and partners the choice to deploy end-to-end solutions that best fit their businesses.
For more information on Apriva’s integrated services and point of sale solutions please visit the company’s website, follow the company on Twitter or LinkedIn, or visit our booth 636 at the upcoming NAMA OneShow in Las Vegas, NV, April 19-21, 2017.
For more information on OTI’s cashless payment solutions for unattended retail environments visit the company’s website, follow the company on Twitter or LinkedIn, or schedule a meeting with Larry and his team at the upcoming NAMA OneShow.
Formed in 2003, Apriva is a leading provider of omnichannel payment solutions and secure mobile communications that meet the exacting security and reliability requirements of financial services providers, government entities, and public service sectors. Through its two operating groups, Apriva Point of Sale (POS) and Apriva Information Security Systems (ISS), the company offers customers fully-managed, end-to-end security solutions that incorporate hardware, software, network infrastructure and management tools. For more information, visit www.apriva.com.
On Track Innovations (OTI) is a global leader in the design, manufacture and sale of secure cashless payment solutions using contactless NFC technology with an extensive patent and IP portfolio. OTI’s field-proven innovations have been deployed around the world to address cashless payment and management requirements for the Internet of Payment Things (IoPT), wearables, automated retail and petroleum markets. OTI distributes and supports its solutions through a global network of regional offices and alliances. OTI is the proud recipient of the 2017 AI Award for Best Cashless Payment Solutions Provider – Israel. For more information, visit www.otiglobal.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions, we are making forward-looking statements. For example, we are using forward-looking statements when we discuss our expectations regarding our growth or profitability, reduction of costs and expenses, expected divestitures, plans for our existing and new products and services, penetration of new markets and securing new customers, contributions of our regions to our growth, resolution of our outstanding patent infringement claims, strengthening of our balance sheet and delivery long-term shareholder value. Because such statements deal with future events and are based on OTI’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. Forward-looking statements could be impacted by the effects of the protracted evaluation and validation periods in the U.S. and other markets for contactless payment cards, or new and existing products and our ability to execute production on orders, as well as other risks and uncertainties, including those discussed in the “Risk Factors” section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2016, and in subsequent filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be achieved. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.