ROSH PINNA, Israel, April 4,
2018 /PRNewswire/ --
On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global
provider of near field communication (NFC) and cashless payment
solutions, today announced that its wholly owned subsidiary, OTI
Europa ASEC (ASEC S.A.), has signed a new contract with the Polish
National Post Office (Poczta Polska S.A.) to manage Warsaw's public transportation "Smart City"
card program.
These postal point of sale (POS) kiosks will allow consumers to
purchase or refill "Smart City" cards for public transportation in
the Warsaw metropolis area via
train, bus, or other mode of public transportation.
OTI will be providing both the payment portion, as well as
software, in 272 "Smart City" card terminals throughout 218 post
offices in Warsaw, whereby OTI
will control the entire sales and payment process. This is a
recurring revenue contract, but due to confidentiality, the terms
of the contract cannot be disclosed. OTI Europa ASEC's network now
includes 800 POS points throughout Poland.
"Our ticketing sales network in Poland continues to gain traction, which we
believe is a strong testament to the value we bring our customers
and the citizens of Poland," said
Agnieszka Swiatly, Managing Director
of OTI Europa ASEC. "Using our total solution, users of 'Smart
City' cards throughout Warsaw will
be able to conveniently purchase and refill their cards, even while
visiting the post office."
Poczta Polska S.A. is a company with a 460-year
tradition, acting as the biggest postal operator on its local
market (Poland) – the network
includes 7,500 postal offices, subsidiaries, and agencies, all
serving private and corporate customers.
OTI Europa ASEC (ASEC S.A.) is one of the largest
operators of e-ticketing and paper ticket sales systems in the
public transport on polish market. The company creates, delivers,
implements and supports IT systems for public transport, OTI Europa
ASEC provides and integrates certified solutions for contactless
payments, allowing for quick cashless payment transactions with
bank cards and NFC.
The company is a part of OTI - On Track Innovations. For more
information, visit www.otieuropa.com.
OTI Global
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.
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," 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, expected
divestitures, plans for our existing and new products and services,
penetration of new markets and securing new customers, and deliver
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. 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
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SOURCE On Track Innovations Ltd. (OTI)