ROSH PINNA, Israel, Oct. 30,
2018 /PRNewswire/ -- On Track Innovations Ltd. (OTI)
(NASDAQ: OTIV), a global provider of near field communication (NFC)
and cashless payment solutions, has received a renewed Interbank
Network Interac certification, which now allows Canadian businesses
to integrate OTI's secure cashless payment solutions into vending
machines, kiosks and other unattended devices throughout
Canada.
Interac Corp. operates an economical, world-class debit payments
system with broad-based acceptance, reliability, security, and
efficiency. The organization is one of Canada's leading payments brands and is chosen
an average of 16 million times daily to pay and exchange money.
"We are pleased to announce that we have received the Interac
certification, reaffirming our commitment to remain at the
forefront of innovation within the exciting Canadian unattended
payment market," said Shlomi Cohen,
CEO of OTI. "Canada has over
59,000 automated teller machines and over 450,000 merchant
locations accessible through the Interac network, making this
certification essential to doing business in Canada. I look forward to addressing this
significant market opportunity by leveraging our continued
technological advantage and aggressive new sales efforts
nationwide," concluded Cohen.
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. 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 / 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.
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)