ROSH PINNA, Israel, October 2,
2017 /PRNewswire/ -- On Track Innovations Ltd. (OTI)
(NASDAQ:OTIV), a global provider of near field communication (NFC)
and cashless payment solutions, announced today it has been named
one of the 10 Fastest Growing IoT Companies of 2017 by The Silicon
Review Magazine.
The Silicon Review Magazine honors OTI with this award after
reviewing OTI's offerings for the cashless payment market and the
Internet of Payment Things (IoPT).
"There is growing demand for Cashless payments in the IoPT and
unattended retail markets in developed countries, particularly in
the US, Europe and Japan, where we are experiencing our greatest
growth," said Shlomi Cohen OTI CEO.
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 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 Things (IoT), wearables, unattended retail and
petroleum markets. OTI distributes 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, 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.
OTI Press Contact
Neil Barr
Director of Marketing
+972-4-686-8004
press@otiglobal.com
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SOURCE On Track Innovations Ltd (OTI)