ROSH PINNA, Israel, May 14,
2019 /PRNewswire/ -- On Track Innovations Ltd.
(OTI) (NASDAQ: OTIV), a global provider of near field
communication (NFC) and cashless payment solutions, has
received a new purchase order to deliver 3,000 of OTI's Uno-8
advanced secure contactless NFC readers to the global Smart
ATM market.
Smart ATMs provide secure, simple, fast and convenient banking,
24 hours a day, seven days a week. Adding an OTI EMV certified
contactless reader provides an ATM with the ability to identify the
account owner and communicate with their smart devices.
OTI has successfully delivered to date almost 40,000 advanced
readers systems and expects to continue delivering significant
numbers in the future.
"As this new order demonstrates, we continue to lead the way in
enabling 'smart' management of globally distributed ATMs payment
system," said Shlomi Cohen, OTI's
Chief Executive Officer.
About OTI
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 "expect,"
"anticipate," "intend," "plan," "will," "can" or
similar expressions, we are making forward-looking statements. For
example, we are using forward-looking statements when we discuss
our expectations regarding continue delivering significate numbers
of our Uno-8 advanced secure contactless NFC readers to the global
Smart ATM market in the future, our expectations to continue to
lead the way in enabling 'smart' management of globally distributed
ATMs payment system 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, 2018, 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.
OTI Press Contact:
Richard
Harris
Marketing Manager
press@otiglobal.com
Investor Relations Contact:
Gavriel Frohwein
GK Investor & Public Relations
+1-646-688-3559
oti@gkir.com
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SOURCE On Track Innovations Ltd. (OTI)