ROSH PINNA, Israel, Oct. 7,
2019 /PRNewswire/ -- On Track Innovations Ltd. (OTI)
(Nasdaq: OTIV), a global provider of near field communication (NFC)
and cashless payment solutions, today announced that it has
received a new purchase order for 5,000 units of OTI's Uno-8
advanced secure contactless NFC readers. These units will be used
for the global Smart ATM market.
By adding an OTI EMV-certified contactless reader, smart ATMs
are provided with the ability to seamlessly and securely identify
the account owner by communicating wirelessly with their smart
devices, enabling an uninterrupted, simple, convenient and secure
banking service for the customer.
"We are pleased with this new purchase order, which adds to a
number of orders we have announced for OTI's advanced readers
systems throughout the past year. Globally, we have already
provided well over 50,000 reader systems to customers which are
enabling smart ATMs with contactless NFC capabilities. Smart ATMs
remain a key market for OTI, and we look forward to a further
growth from this market in the coming quarters," commented
Assaf Cohen, OTI's Interim Chief
Executive Officer.
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 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
"will," "expect," "look forward," "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 the further growth from the Smart ATMs
market in the coming quarters. 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. Additional factors that could cause actual results to
differ materially from those anticipated by our forward-looking
statements are stated under the captions "Risk Factors" in our most
recent Annual Report (Form 10-K) and other known and unknown
uncertainties and risk factors including those detailed from time
to time in the Company's filings with the Securities and Exchange
Commission. Forward-looking statements are made as of the date of
this release, and we expressly disclaim any obligation or
undertaking to update forward-looking statements. The reader is
cautioned not to place undue reliance on forward-looking
statements.
Investor Relations Contact:
Gavriel Frohwein
+1-646-688-3559
oti@gkir.com
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SOURCE On Track Innovations Ltd. (OTI)