ROSH PINNA, Israel, Jan. 22,
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 purchase order to deliver more than 4,000 UNO-8 advanced
contactless NFC readers to service the global Smart
ATM market, which will be delivered in the first quarter of
2019.
Smart ATMs integrate a contactless NFC reader, such as OTI's
UNO-8, to provide secure, fast, simple and convenient banking,
while providing the ATM operator with the ability to identify the
account owner and communicate with their smartphone.
The UNO-8's unique form factor makes it the world's smallest
FeliCa- and EMVCo Level 1 & 2 modular certified reader, while
also supporting other NFC contactless payments, like Mifare and
P2P. With complete contactless connectivity and multiple mounting
options, the UNO-8 is designed for unattended retail environments
with self-service payment stations, including ATMs, smart Electric
Vehicle charging stations, ticket vending machines, toll roads,
gaming machines, kiosks, access control, and mass transit.
"I am pleased to announce this new purchase order for our
cutting-edge UNO-8 contactless NFC readers," said Shlomi Cohen, CEO of OTI. "The smart ATM market
is growing as ATM operators worldwide begin to recognize the value
of the enhanced functionality that our products provide. We expect
to realize continued sales growth in this exciting segment
and look forward to providing our shareholders with further updates
as appropriate."
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. Any statements that are not
statements of historical fact should be considered forward looking
statements. Whenever we use words such as "will," "look forward," "
expect,", "plan," "intend," "can" or similar expressions, we are
making forward-looking statements. For example, we are using
forward-looking statements when we discuss, among other things, ,
our continued sales growth in the smart ATM and other markets, our
aggressive growth initiatives, sources of revenue and anticipated
revenue, including the contribution from the growth of new markets.
Forward-looking statements are management's present expectations of
future events, are made as of the date of this document and are
inherently subject to risks and uncertainties which could cause
actual results to differ materially from those in the
forward-looking statements, including growth into the smart ATM
market. 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:
Greg Falesnik
MZ North America
+1-949-385-6449
Greg.Falesnik@mzgroup.us
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SOURCE On Track Innovations Ltd. (OTI)