OTI Launches GoBox, a Powerful and Highly Customizable M2M Gateway Offering Cashless Payment and Full-HD Media Streaming
December 22 2016 - 8:31AM
On Track Innovations Ltd. (OTI) (NASDAQ:OTIV), a global provider of
near field communication (NFC) and cashless payment solutions,
today announced the release of its GoBox – a powerful
machine-to-machine (M2M) cashless payment and telemetry gateway.
GoBox’s high versatility and easy integration is designed for
unattended machine operators who require a modular and powerful M2M
gateway with enough processing power to stream Full-HD media and
run either Linux or Android. Fully compatible with OTI’s installed
base of cashless payment readers, GoBox can benefit OTI’s current
and new customers alike.
“Our GoBox is a giant leap forward in what is offered to vending
and payment machine operators,” says Neil Barr, Head of Marketing
and Innovations at OTI. “This opens up potential new revenue
streams allowing operators to sell video advertising space and
engage consumers at venues by providing promotions, social media
interactions, contests and even gaming. These streams come in
addition to the increased revenues expected from accepting cashless
and mobile payments. We anticipate GoBox will generate add-on sales
revenue for OTI, as it increases revenues for our customers.”
Linux and Android support provides GoBox with great versatility
and scalability empowering operators to easily port additional
applications to their existing machines. The combination of
powerful processing and HDMI allows vendors to take advantage of
the latest marketing technology, such as point of sale video
advertising, location based promotion and loyalty campaigns. With
many markets now mandating vendors disclose product ingredients and
nutritional values, GoBox can easily output this information to the
cashless reader screen or to a dedicated monitor. GoBox provides
several communication options including Bluetooth, Wi-Fi and
Ethernet.
GoBox is a completely modular M2M processing platform. GoBox can
be customized with single, dual, or quad core processors that can
run Linux or Android operating systems. The machine interface can
support MDB, DEX, JVMA and other standards. The cellular
connectivity module supports 2G to 4G LTE, suitable for rollouts in
any region of the world.
Combined with OTI's cashless payment readers, GoBox is the
ultimate M2M gateway for machine operators seeking innovative
cashless payment and multimedia telemetry solutions.
About OTI
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.
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, 2015, 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.
OTI Press Contact:
Neil Barr
Director of Marketing
+972-4-686-8004
press@otiglobal.com
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