New Products Expand Opportunities Into Attractive Growth Verticals, Including ATM, Kiosk and Gaming
ROSH PINA, ISRAEL — 10/06/15 — On Track Innovations Ltd. (oti) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment systems, has introduced a new product lineup with feature enhancements designed to support entry into new markets and industry verticals.
“oti has a rich history of innovation and world-class NFC technologies,” said the company’s CEO, Shlomi Cohen. “As we accelerate our transition into a sales-driven organization, our new products will support the success of our sales team, particularly as we enter new markets and industry growth verticals, like ATM, kiosk and gaming.”
oti’s expanded product portfolio addresses a broad range of market opportunities and payment methods:
- otiMetry: Complete system for the unattended vending machine market, including hardware, software and cloud-based services to support the entire business lifecycle management process.
- SATURN 8700 UNO: Ultra-compact, certified payment NFC reader, including Felica™ and peer-to-peer, specifically designed for installation in unattended, self-serve payment stations, like vending machines, ATMs, gaming and kiosks.
- otiMate 9500 PCI: Highly-modular, cost-effective, EMV and PCI certified all-in-one cashless reader and vending machine telemeter designed for indoor and outdoor environments.
- TRIO m-POS: Compact and lightweight portable PIN pad reader that accepts all cashless payment methods, including magnetic stripe, contact and contactless (mobile NFC).
- PICO BT: Ultra-compact and lightweight portable reader, supporting Bluetooth and BLE communication, making it ideal for mobile point-of-sale applications.
- oti Pay Capsule: Wearable NFC payment device that leverages oti WAVE’s proven technology certified by major card associations (MasterCard and Visa).
In order to support and accelerate product development of its new products, oti’s research and development efforts are focused on forming partnerships with global manufacturers and developers. The company plans to complete the rollout of these new additions to its product line up by 2016. For more details, a downloadable presentation is available from the company’s website here.
“Our new product line builds on an already impressive suite of award-winning solutions that address the entire cashless payment spectrum,” noted Cohen. “This expanding product portfolio, along with our strengthened sales team and channel partnerships, positions us to capitalize on the growing global market demand for secure and reliable NFC payment solutions.”
The new products will join the lineup of oti’s existing cashless payment solutions, which have been deployed globally by leading institutions, and have processed millions of NFC transitions:
- TRIO: Modular payment reader that supports three cashless payment interfaces in a single enclosure.
- UNO: Ultra-compact NFC reader designed for a range of cashless payment environments.
- SATURN 6100: Compact and cost-effective contactless card reader board, designed for easy integration into terminals, including POS, mass transit validators and vending machines.
- CONNECT 3000: The ultimate M2M controller, specifically designed to enable real-time clearing of cashless payments and real-time remote machine inventory control and maintenance information.
- WAVE: After-market solution that adds NFC, contactless payment and MIFARE capabilities to existing iPhone and Android mobile devices.
On Track Innovations Ltd. (oti) is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. oti’s field-proven innovations have been deployed around the world to address NFC and other cashless payment solutions, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing. oti markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.
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. 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, 2014, 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.
Scott Liolios or Matt Glover
Liolios Group, Inc.
Nir (Neil) Barr
oti Marketing Director