On Track Innovations Partners with The George Municipality Western Cape Government to Offer Smart Cards in South Africa’s Public Transportation System

Partnership Marks OTI’s First Cashless Payments Entrance to South Africa Outside of Fueling

ROSH PINNA, Israel – October 6th, 2018 — On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, has partnered with Almex Transport Solutions ticketing machines for the George Municipality Western Cape Government to implement the Go GEORGE Smart Cards, a “smart card” solution for South Africa’s public transportation system which will replace the paper ticketing system currently used on buses in the region.

The project, called The George Integrated Public Transport Network (GIPTN), is aimed at launching a new and improved public transport system for South Africa. OTI’s wholly owned subsidiary, OTI Africa, will supply ultra-intelligent OTI TRIO cashless readers that will register the fare upon boarding the bus via contactless NFC technology, which inevitably will save much-needed time for public transport scheduling, as well as eliminating the need for correct cash change and cleaning up the paper tickets waste problem.

 

“This new partnership to assist in the implementation of a ‘smart card’ program in South Africa is meaningful, as it marks our second entrance into the payment market in South Africa,” said Shlomi Cohen, CEO OTIGlobal. “We are confident that our TRIO cashless readers will help ensure a smooth transition and greatly benefit those using public transportation in the region.”

GO GEORGE Smart Cards will be issued and facilitated by the Standard Bank, whereby cardholders can load trips in different packages and fare categories onto the card at Smart Card kiosks, registered by GO GEORGE Smart Card top-up vendors and participating Standard Bank vendors such as supermarkets, self-service kiosks, petrol stations, and restaurants.

“GO GEORGE is proud to announce the implementation of the long-awaited GO GEORGE Smart Card, resembling a flexible bank card and replacing the awkward paper ticket system,” said James Robb, GO GEORGE Manager. “The service will be available on starting November 15th, and OTI is providing a critical component to ensure a successful launch.”

About Go George

The George Integrated Public Transport Network (GIPTN) is a project aimed at launching a new and improved public transport system for George and surrounding areas. GO GEORGE is operated by the public transport operators with existing services in the George area. The first trial phase launched on 8 December 2014, with routes rolling out in phases over the following months. The aim is to provide a quality public transport service that is reliable, affordable, safe, convenient and accessible and contributes to a better quality of life for all. Visit: http://www.gogeorge.org.za/

 

About OTI

On Track Innovations (OTI) is a global leader in the design, manufacture, and sale of secure cashless payment solutions using contactless NFC technology. 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.

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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Any statements that are not statements of historical fact should be considered forward-looking statements. Whenever we use words such as “will,” “anticipate,” “intend,” “look forward,” “can,” “may” or similar expressions, we are making forward-looking statements. For example, we are using forward-looking statements when we discuss, among others: our plans for the future, our plans for continued sales, our expectations regarding future product launches and growth into new markets, our ability to attract or retain customers, increases our footprint in key markets and our expectation of bringing tremendous value to our industry while generating predictable, high-margin, recurring revenues for the Company and great value for our shareholders. Forward-looking statements are made as of the date of this document and are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are stated under the captions “Risk Factors” in our most recent Annual Report (Form 10-K) and other known and unknown uncertainties and risk factors including those detailed from time to time in the Company’s filings with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements. The reader is cautioned not to place undue reliance on forward-looking statements.

 

Investor Relations Contact:

Greg Falesnik
MZ North America
+1-949-385-6449
Greg.Falesnik@mzgroup.us