OTI Partners with US-based 365 Retail Markets to Supply Cashless Payment Solutions for MicroMarkets
April 18 2017 - 8:31AM
On Track Innovations Ltd. (OTI) (NASDAQ:OTIV), a global provider of
near field communication (NFC), cashless payments and fuel
management solutions, has formed a new strategic partnership with
365 Retail Markets, the leader in MicroMarket technologies.
US-based 365 Retail Markets enables each customer’s
entire ecosystem with cutting-edge technology, unrivaled selection,
and world-class support. Combined with OTI’s best-in-class,
field-proven and secure cashless solutions, MicroMarket operators
and their customers benefit from this robust design.
“The partnership with 365 Retail Markets shows how
OTI is committed to increasing its presence and activities in the
US market,” says OTI CEO, Shlomi Cohen. “Our pre-certified
off-the-shelf cashless payment solutions are very cost-effective
and have proved to be a great fit to the US vending, self-service
and automated retail markets.”
365 has been pioneering innovation in the vending
industry since 2008, expanding their technologies beyond
MicroMarkets to encompass a broad range of self-service and payment
products. 365’s newest concept, the Connected Campus, streamlines
vending operations by linking devices and customer accounts for
efficient management. Incorporating OTI’s secure cashless payment
solutions is a huge step forward in fulfilling 365’s strategy for
supporting operator processes and boosting their business.
"As 365 continues to expand globally, it becomes
more and more important for us to have the right relationships to
keep up with payment demands,” adds 365 CEO, Joe Hessling. “OTI is
the right choice for us and we look forward to years of innovation
together."
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 OTI team at the upcoming NAMA OneShow.
About OTIOn 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, unattended retail and petroleum markets. OTI distributes
and supports its solutions through a global network of regional
offices and alliances, including UCP, Inc. in North America. 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.
About 365 Retail Markets
365 Retail Markets, a rapidly growing self-service technology
company with offices in Metro Detroit, Santa Clara, and Provo,
creates technology that connects people with products at work. Our
proprietary 365 technology provides a turnkey platform that allows
customers to increase sales, improve the end user experience, and
increase profits while reducing operating costs!
For more information about 365 Retail Markets,
visit www.365retailmarkets.com. You can also follow 365 Retail
Markets
on Facebook, Twitter, Google+, YouTube and Linkedin.
OTI contact:
Neil Barr
OTI
+972-4-686-8004
press@otiglobal.com
Press Contact
Jen Tonio, 365 Retail Markets
888-365-7382
jen.tonio@365smartshop.com
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